Cinch, Asia’s largest Device-as-a-Service (DaaS) platform, announced a USD$28.8 million 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.

According to Canalys, Southeast Asia’s smartphone market surged in 2024, with vendors shipping 96.7 million units—a remarkable 11% year-on-year growth. Cinch’s subscription model provides flexible, affordable, and sustainable access to devices like smartphones, laptops, and tablets, while extending device lifecycles and reducing carbon emissions. 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, optimizing cost and efficiency.

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