Cinch raises US$28.8 mil to expand device-as-a-service platform across Asia

• Funds will be used to develop an OS for scalable device subscriptions
• Claims it has reduced e-waste, boosted affordability for consumers & businesses

Cinch, Asia’s largest device-as-a-service (DaaS) platform, has announced a funding round of up to USD$28.8 million (RM129 million) to scale its subscription-based tech ecosystem. The round was led by Monk’s Hill Ventures, with participation from Z Venture Capital, 1982 Ventures, Ratio Ventures, DCG, Feedback Ventures, Seedstars, and Faeda Ventures.

This raise will enable Cinch to further develop an operating system that powers circular device distribution at scale, paving the way for technology that allows distributors, telcos, and retailers to seamlessly integrate device subscriptions into their existing sales and service models.

Cinch’s subscription model provides flexible, affordable, and sustainable access to devices such as smartphones, laptops, and tablets. Consumers can upgrade to the latest technology with low monthly fees, avoiding upfront costs and long-term contracts. For enterprises, Cinch streamlines device procurement, financing, and lifecycle management, optimising both cost and efficiency.

The company operates on a circular subscription model designed to maximise device longevity while minimising environmental impact. By refurbishing and redeploying devices across multiple lifecycles, Cinch claims it reduces e-waste and enhances affordability for both consumers and businesses. According to Cinch, its proprietary platform integrates automated lifecycle management, dynamic pricing intelligence, and embedded financing — ensuring capital efficiency while enabling devices to generate long-term value beyond a single ownership cycle.

The company stated that this model not only improves financial accessibility, but also supports global sustainability goals by embedding reuse and responsible disposal into the core of technology consumption.

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

The company has rapidly established itself as Asia’s largest circular tech provider, driving sustainable access to high-quality devices at scale across key markets. Key partners include Samsung Electronics Singapore, where Cinch was announced as its official subscription partner for the Galaxy S25 Series in Singapore. Consumers can subscribe to Samsung’s flagship smartphone for a monthly fee that includes damage protection and an upgrade option at the end of the term.

“We’ve chosen to work with Cinch to offer our consumers in Singapore a flexible and affordable option to own our latest devices, while concurrently bolstering our sustainability agenda. Achieving resource circularity for our products throughout their entire life cycles is key for the brand, and Cinch’s device-as-a-service supports this vision, while balancing consumers’ aspirations of having access to the latest technology innovation in market,” said Timothy Tan, director and head of integrated B2B, Samsung Electronics Singapore.

“Cinch operates at the intersection of fulfilling consumer aspiration, supporting industry digitalisation, and enabling environmental sustainability. These value propositions are particularly relevant in Southeast Asia, where a youthful population and a rising middle class aspire to own the latest devices, while businesses are rapidly digitalising through mobile technology,” said Kuo-Yi Lim, co-founder and managing partner at Monk’s Hill Ventures.

“This also extends the useful life of electronic devices and reduces e-waste — ultimately, a win-win-win for all. We are pleased to be an early partner to the Cinch team on this important mission,” he added.