Why we invested: Revibe

Since our first investment in Vinted a decade ago, we at Burda Principal Investment, have always actively sought out category-leading marketplaces that enhance transactional efficiency and capitalise on strong network effects in large, yet underpenetrated, markets. In Revibe, the leading marketplace for refurbished electronics in the Middle East and South Africa, we have found a company that fits exceptionally well with this ambition.

Refurbished electronics in emerging markets: A multibillion-dollar white space ready to be captured

The refurbished electronics market is expanding quickly in emerging economies, driven by trends including rising smartphone penetration, a young and tech-savvy demographic, and the rapid emergence of a value-conscious middle class. These consumers aspire to access the latest technology and the social status associated with premium devices but remain price sensitive. At the same time, digital infrastructure has matured to the point where e-commerce penetration is catching up with European levels, reducing friction in online purchasing and making customers increasingly comfortable with buying high-value electronics online.

Yet until recently, the second-hand electronics market in the Middle East was largely underserved. It was dominated by fragmented mom-and-pop shops and brick-and-mortar retailers that struggled to provide the level of service, warranty, and trust needed to support the purchase of high-AOV electronics.

Revibe entered the market at exactly the right moment and has been able to harness these structural tailwinds to scale rapidly becoming the leading regional marketplace for refurbished electronics.

Revibe is uniquely positioned to win this market

An efficient model built for outstanding unit economics: Revibe operates on an asset-light model, meaning the company does not carry inventory on its balance sheet. This approach significantly reduces the working capital required to scale the business while enabling rapid growth. Thanks to this model, Revibe achieves world-class unit economics.

Operational excellence: Operational excellence lies at the core of Revibe’s success. The company has continuously optimised its processes, achieving benchmark-leading levels of defect and cancellation rates. These operational improvements are complemented by exceptional customer experience metrics, with high CSAT and NPS scores demonstrating that consumers recognise the market-leading quality of Revibe’s services.

A scalable expansion engine: Revibe’s asset-light model, combined with Dubai’s deep and diversified supply of second-hand electronics, has enabled the company to develop an efficient and repeatable expansion playbook. When entering a new market, Revibe can rapidly establish a local digital presence, leveraging Dubai’s supply chain to serve customers immediately. The effectiveness of this approach was demonstrated with the launch in South Africa, which recorded the highest growth in the company’s history and validates the model for future expansion across Southeast Asia and Africa.

An exceptional team built for success: Founders Hamza and Abdessamad bring deep insights into consumer behavior in the Middle East, honed during their time as strategy consultants in the region. Leveraging this expertise, they have built a lean, cohesive, and highly effective team across the Middle East, Egypt, and Pakistan, strategically structured to capture and win this market.

Strong investor-target fit

Revibe sits squarely within our investment thesis and complements our portfolio of category-leading marketplaces, including Vinted, Etsy, Carsome, and Buycycle. Like these companies, Revibe addresses deep structural inefficiencies in its market, creating a platform that delivers meaningful value for all stakeholders.

Furthermore, Revibe is at the forefront of a global shift toward sustainable consumption. By making it easier, safer, and more transparent to purchase high-quality second-hand consumer electronics, the company is extending product lifecycles and reducing waste in a sector traditionally dominated by goods with short lifespan. In doing so, Revibe is not only building a high-growth business but also driving environmental impact, creating a powerful combination of financial return and positive societal contribution – precisely the kind of opportunity we seek to support at BPI.