India's first DaaS platform Swish Club Raises $4.5Mn In Pre-Series A Round

Swish Club, a sustainable devices-as-a-service platform, has raised $4.5 million in a pre-Series A round led by Powerhouse Ventures.

The equity round also saw participation from notable investors like Blume Ventures with  Founders Fund,  Touchstone Ventures with Eternal Capital, and Atrium Ventures.

Other investors included industry leaders like 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 funding included $3.3 million in equity and $1.2 million in debt financing.

Swish Club will use the funding for product development, hiring, and boosting revenue. The debt portion will go toward financing devices, the company said.

Read also- Spyne Raises $16 Million In Series A Funding Round led by Vertex Ventures

“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," said Sri Peddu and Kshitij Golwalkar, General Partners, Powerhouse Ventures, in a joint statement.

Its software helps businesses quickly and easily adopt enterprise-grade security and compliance solutions for corporate devices.

About Swish Club

Founded in 2023 by Dushyant Sapre, Suraj Kumar and Jai Anand, Swish Club offers an all-in-one solution for enterprise devices, endpoint management, and security software. It manages the entire device lifecycle, from sourcing and setup to security, upgrades, and safe returns.

With its Device-as-a-Service (DaaS) model, Swish Club allows businesses and employees to choose laptops and smartphones from brands like Apple, Samsung, HP, Dell, and Lenovo. It has partnered with over 125 enterprises.

The company has onboarded clients such as Max Life Insurance, HDFC Life, PepsiCo, Philips, GMR, and startups like Whatfix, Meesho, and FamPay.

Swish Club also launched India’s first digital platform for enterprise laptop rentals and smartphone leasing for corporate employees. Its rental service includes four pre-bundled software solutions: Asset Management Portal (AMP), Mobile Device Management (MDM), antivirus, and a device cleaner.

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