Cinch raises $38.2m in latest funding round

The funding round was led by Monk’s Hill Ventures.

1982 Ventures portfolio company Cinch, secured $38.2m (USD$28.8m) in a recent funding round to scale its subscription-based tech ecosystem.

The round was led by Monk’s Hill Ventures, with participation from existing investor 1982 Ventures and new investors Z Venture Capital, Digital Currency Group (DCG), and Ratio Ventures.

Cinch is a subscription-based Device-as-a-Service (DaaS) platform that allows consumers and businesses to rent, upgrade, or return tech devices, such as smartphones, laptops, and appliances, at a low cost.

This business model aims to extend device lifecycles and reduce carbon emissions. Some of its partners include Samsung Electronics Singapore and CompAsia.

"The way people consume technology is evolving. With rising costs, financing gaps, and increasing regulatory pressure on e-waste, Cinch is leading the shift toward circular access to tech. Beyond a platform, we’re connecting the dots within Asia’s infrastructure for a sustainable tech economy,” Mahir Hamid, CEO & co-founder of Cinch, said.