Swish Club Raises $4.5M to Scale Device-as-a-Service Platform
Swish Club, a digital device-as-a-service (DaaS) platform, has secured $4.5 million in pre-Series A funding, comprising $3.3 million in equity and $1.2 million in debt financing. Powerhouse Ventures led the equity round, with participation from Blume Ventures, Founders Fund, Touchstone Ventures, Eternal Capital, and Atrium Ventures.
The round also attracted investment from notable industry figures, including Livspace's Anuj Srivastava, Al Jazira Capital's Ajit Reddy, Goldman Sachs veterans Deb Dutt and Tushar Patel, and Citi Ventures head Jatin Mamtani.
The company plans to allocate the equity funding toward product development, talent acquisition, and revenue acceleration, while the debt component will support device financing operations.
"Managing corporate devices is a complex, multi-step process involving procurement, financing, asset management, and eventual recycling," said Dushyant Sapre, Founder & CEO of Swish Club. "Our platform simplifies this process, helping businesses reduce device and software costs from 10% to just 3% of total annual capex - all with a few clicks."
Since its launch in April 2024, Swish Club has built an impressive client portfolio of over 125 enterprise customers, including major corporations like Max Life Insurance, Bennett and Coleman, HDFC Life Insurance, Pepsico, and Philips. The platform has also attracted notable startups such as Whatfix, Zetwerk, Meesho, and Plum.
The company has introduced what it claims is India's first digital platform for enterprise laptop rentals and corporate smartphone leasing. Their Enterprise Device Rental solution includes four complementary software tools: Asset Management Portal, Mobile Device Management, Antivirus, and Device Cleaner.
Swish Club wants to make a streamlined platform for businesses' entire device management lifecycle. This will eliminate the need for multiple vendors while also ensuring enterprise-grade security and compliance with the strictest order. The service allows companies to remove depreciating assets from their balance sheets and redirect resources toward core growth initiatives.