The archive · Consumer Apps · Strategic decision · 2022–2025
Cinch bets Southeast Asia will rent, not buy, gadgets; $28.8M round, Forbes 100 to Watch
Singapore DaaS platform lets consumers and SMEs subscribe to phones, laptops and tablets; $28.8M round led by Monk's Hill Ventures.
Cinch
What the business is
Device-as-a-Service subscription platform letting consumers and businesses rent, upgrade, return or buy smartphones, laptops, tablets and appliances; refurbishing and recycling extend device lifecycles.
How it started
Founded in 2022 by Mahir Hamid in Singapore, Cinch set out to sell access to gadgets rather than the gadgets themselves: phones, laptops and tablets offered as monthly subscriptions with upgrade, return and buy options built in.
What happened
Built a Device-as-a-Service ecosystem across Singapore and Malaysia with Samsung Electronics Singapore and CompAsia among its partners; in April 2025 raised S$38.2M (US$28.8M) in a debt-and-equity round with the equity portion led by Monk's Hill Ventures and participation from Z Venture Capital, Digital Currency Group, Ratio Ventures and existing investor 1982 Ventures, to scale subscriptions across Asia.
How it ended up
Still scaling: services available in Singapore and Malaysia, and Forbes Asia listed Cinch among 14 Singapore companies on its 100 to Watch 2025 roster in the consumer technology category.
Background
Cinch is a Singapore-based Device-as-a-Service (DaaS) platform. Consumers and businesses subscribe to smartphones, laptops, tablets and appliances for a monthly fee, with the option to upgrade, return or buy; Cinch refurbishes, repairs and recycles devices to extend their life, offering an alternative to e-waste.
Founded in 2022 (per Forbes Asia) by Mahir Hamid, Cinch sells access to gadgets rather than ownership. Its services are live in Singapore and Malaysia, and it counts Samsung Electronics Singapore and CompAsia among its partners in the region's device ecosystem.
In April 2025 Cinch raised S$38.2M (US$28.8M) in a debt-and-equity round, with the equity led by Monk's Hill Ventures and participation from Z Venture Capital, Digital Currency Group, Ratio Ventures and existing investor 1982 Ventures. In August 2025, Forbes Asia named it to the 100 to Watch list under consumer technology, one of 14 Singapore companies on the roster.
What has to be true
- Device prices keep rising while disposable income in Southeast Asia does not — a subscription spreads a flagship phone or laptop into an affordable monthly fee.
- The model is circular: refurbish, repair and recycle keep units in use longer, cutting e-waste and lowering the cost base.
- Partnerships like Samsung Electronics Singapore gave Cinch distribution through a brand consumers already trust, not just a standalone rental app.
- Monk's Hill, Z Venture Capital and DCG backing signaled investors believe tech consumption in Asia is shifting from ownership to access.
What can be applied
In price-sensitive markets, access beats ownership: spreading device cost into a monthly subscription with refurbish-recycle built in turned a pain point into a fundable circular business.
Aftermath
As of August 2025 Cinch was scaling its DaaS ecosystem across Singapore and Malaysia, backed by the US$28.8M round raised in April; Forbes Asia listed it among 14 Singapore companies on the 100 to Watch 2025 roster in the consumer technology category.
Sources
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