Devices-as-a-Service Platform Swish Club Raises $4.5 Million

Devices-as-a-Service (DaaS) platform Swish Club has successfully secured $4.5 million through a pre-Series A funding round, which includes $3.3 million in equity and $1.2 million in debt financing. Powerhouse Ventures spearheaded this equity round, with contributions from Blume Ventures, Founders Fund, Touchstone Ventures, Eternal Capital, and Atrium Ventures, alongside individual investors such as Livspace’s Anuj Srivastava, Ajit Reddy, Deb Dutt, and Tushar Patel.

The Bengaluru-based enterprise previously raised $1.26 million from existing investors and others.

Overview of Swish Club

Founded in 2023 by Dushyant Sapre, Suraj Kumar, and Jai Anand, Swish Club offers a comprehensive solution for enterprise devices, along with end-point management and security software. This platform manages the complete lifecycle of devices, covering procurement, configuration, administration, security, and smooth returns or upgrades.

Customisation and Partnerships

According to Swish Club, its DaaS model enables enterprises and their employees to select preferred laptops and smartphones from well-known manufacturers such as Apple, Samsung, HP, Dell, and Lenovo, forming partnerships with over 125 enterprises.

Swish Club reports that it has successfully onboarded more than 125 enterprise clients, including notable names like Max Life Insurance, Bennett and Coleman, HDFC Life Insurance, PepsiCo, Informatica, Philips, GMR, RPG Group, Landmark Group, and Zensar, as well as innovative startups such as Whatfix, Zetwerk, Meesho, Plum, Allen, Porter, Bold Care, FamPay, Zolvit, Qila Games, and Addverb.

Simplifying Device Management

Dushyant Sapre, CEO & Co-founder of Swish Club, explained that managing corporate devices involves a complicated, multi-step process encompassing procurement, financing, asset management, and eventual recycling. Each stage typically relies on various vendors, leading to potential cost inefficiencies, a lack of transparency, and extensive communication. Swish Club simplifies this process by providing India’s first digital Device-as-a-Service (DaaS) platform, enabling businesses to remove depreciating assets from their balance sheets and decrease IT costs dramatically from 10% to only 3% of total capital expenditure—all streamlined through a dedicated digital platform.

Innovative Solutions Offered

Under its Device-as-a-Service (DaaS) offering, Swish Club has launched India’s first online platform for laptop rentals aimed at enterprises and smartphone leasing services for corporate employees. The rental solution for enterprise devices includes four complimentary pre-packaged software solutions: Asset Management Portal (AMP), Mobile Device Management (MDM), antivirus, and device cleaner.

Competitive Landscape

In India, Swish Club encounters competition from numerous unorganised players, while on a global scale, it competes against established companies like Grover and Everphone.