Swish Club, a Devices-as-a-Service (DaaS) platform has secured USD 4.5 million in a pre-Series A funding round. This included USD 3.3 million in equity and USD 1.2 million in debt financing. The equity round was spearheaded by the likes of Powerhouse Ventures, while also saw participation from Blume Ventures, Founders Fund, Eternal Capital, Touchstone Ventures, and Atrium Ventures. Furthermore, the funding round also saw participation from other investors including Livspace’s Anuj Srivastava, Deb Dutt, Ajit Reddy and Tushar Patel.
Also to note, this Bengaluru-based company had successfully raised USD 1.26 million previously from its existing investors and others.
The company was founded by Dushyant Sapre, Suraj Kumar, and Jai Anand back in 2023, wherein, it has been focusing on offering a one-stop solution for enterprise devices, end-point management, and security software. Right from sourcing, configuration, administration, security, and safe returns to upgrades, the platform handles the entire lifecycle of a device.
As per the company, DaaS also allows enterprises and their employees to choose their preferred laptops and smartphones from varied manufacturers such as Apple, Samsung, Dell, HP and Lenovo. It also boasts of having partnership with more than 125 enterprises.
Adding to this, Swish Club claims to have onboarded over 125 enterprise clients which include the likes of Max Life Insurance, Bennett and Coleman, PepsiCo, HDFC Life Insurance, Philips, GMR, Informatica, to name a few. Also, it caters to startups such as Whatfix, Zetwerk, Meesho, Plum, Allen, Porter, Bold Care, among others.
"Managing corporate devices is a complex, multi-step process involving procurement, financing, asset management, and eventual recycling. Each step requires different vendors, leading to cost implications, lack of transparency, and multiple back-and-forths. Swish Club is simplifying this with India’s first digital Device-as-a-Service (DaaS) platform, helping businesses remove these depreciating assets from their balance sheets and reduce IT costs from 10% to just 3% of total capex - all with just a few clicks through a dedicated platform," said Dushyant Sapre, CEO & Co-founder of Swish Club.
Moreover, Swish Club has introduced India’s first digital platform for laptop rentals for enterprises and smartphone leasing for corporate employees under its Device-as-a-Service (DaaS) solution. To note, the enterprise device rental solution comes with four free pre-bundled software solutions, i.e., Asset Management Portal (AMP), Mobile Device Management (MDM), device cleaner, and antivirus.
