Swish Club, a devices-as-a-service (DaaS) platform, has raised $4.5 million in a pre-Series A funding round, including $3.3 million in equity and $1.2 million in debt financing.
The funding round was led by Powerhouse Ventures and also saw participation from Blume Ventures with Founders Fund, Touchstone Ventures with Eternal Capital, and Atrium Ventures.
The funding round also included industry leaders such as Livspace’s Anuj Srivastava and Al Jazira Capital’s Ajit Reddy, alongside Goldman Sachs veterans Deb Dutt and Tushar Patel and the head of Citi Ventures Jatin Mamtani.
The funds raised will be used for its product development, talent acquisition, and revenue acceleration. The debt component would be utilised for device financing.
“Managing corporate devices is a complex, multi-step process involving procurement, financing, asset management, and eventual recycling. Each step requires different vendors that come with 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 sheet, and reduce device and software costs from 10% to just 3% of total annual capex – all with a few clicks through a dedicated platform. This means companies can now invest more in their core growth and avoid dealing with multiple vendors,” said Dushyant Sapre, founder & CEO of Swish Club.
“Swish Club exhibits immense potential with its innovative, technology-led approach to simplify device management and compliance for fast-growing enterprises. By offering a seamless, cost-efficient, and scalable solution, the company is transforming the traditionally fragmented and capital-intensive IT asset management. Solving a complex concern with its digital-first DaaS offering, we believe Swish Club is on its way to putting India on the global map and redefining the evolving enterprise tech landscape,” said Peddu and Kshitij Golwalkar, general Partners, Powerhouse Ventures.
Founded in 2023 by Dushyant Sapre, Suraj Kumar, and Jai Anand, Swish Club provides solutions for enterprise devices and end-point management and security software.
Since its launch in April last year, Swish Club says it has onboarded over 125 enterprise clients, including Max Life Insurance, Benett and Coleman, HDFC Life Insurance, Pepsico, Informatica, Philips, GMR, RPG Group, Landmark Group and Zensar. Startups such as Whatfix, Zetwerk, Meesho, Plum, Allen, Porter, Bold Care, FamPay, Zolvit, Qila Games, Addverb are also clients of Swish Club.
