Singapore-based Device-as-a-Service (DaaS) platform Cinch has announced raising up to $28.8 million in a combination of debt and equity, in its latest funding round anchored by Southeast Asian venture capital firm Monk’s Hill Ventures.
The round also saw participation from a host of venture investors, including Z Venture Capital, 1982 Ventures, Ratio Ventures, DCG, Feedback Ventures, Seedstars, and Faeda Ventures, per the announcement.
With the fresh funds, Cinch seeks to scale its circular tech ecosystem and subscription services for electronics across the region. The startup was founded by Mahir Hamid in 2023.
Cinch offers subscription-based access to electronic devices such as smartphones, laptops, and tablets, allowing users to avoid upfront costs. Its circular model refurbishes and redeploys devices, reducing e-waste and supporting sustainability.
“Whether you’re a business or a consumer, owning tech outright no longer makes sense. It ties up capital, limits flexibility, and creates waste,” Hamid told DealStreetAsia.
Cinch, he said, provides a smarter alternative — a platform that not only gives users access to the latest devices, but also manages the entire lifecycle of tech.
“From deployment to upgrade to recovery, we’re solving the real pain points of tech ownership and helping our customers stay agile, efficient, and future-ready,” Hamid added.
The company partners with major brands, including Samsung Electronics Singapore, where it serves as the official subscription partner for the Galaxy S25 series. Subscribers receive damage protection and upgrade options under a monthly plan.
Hamid, who is also the company’s CEO, said the way people consume technology is evolving. Cinch’s embedded financing and lifecycle management system aims to make access to electronics more affordable and sustainable.
“With rising costs, financing gaps, and increasing regulatory pressure on e-waste, Cinch is leading the shift towards circular access to tech,” Hamid said.
Monk’s Hill Ventures co-founder and managing partner Kuo-Yi Lim said Cinch’s device subscription model aligns with Southeast Asia’s growing demand for affordable tech, as a young population and rising middle class seek access to the latest devices.
The DaaS model that Cinch is offering is not new in Southeast Asia. Last year, Circular, a Y Combinator-backed subscription service focused on high-end consumer electronics, raised $3.3 million in a funding round led by FEBE Ventures and AirTree Ventures
Founded in Singapore in 2021 by Nick Ramsay, George Oliver, Pantha Roy, and Yaniv Bernstein, the Singapore-based subscription service platform offers premium tech items for rent, enabling customers to use the latest technology at a lower cost.
