Saudi startup Zension secures $30 million in Series A funding to provide mobile phones via a subscription service.
Zaam, a new offering by Zension Technologies, is set to disrupt the tech device market in the Gulf Cooperation Council (GCC) region. This subscription-based service aims to provide users with access to the latest technology devices, such as smartphones, laptops, tablets, and other electronics, through a flexible and affordable model.
Zaam's launch comes at an opportune time as Saudi Arabia, the region's largest device market, sells over 15 million smartphones annually. The service's strategic investors include Wa'ed Ventures, Sumitomo Corporation, and Global Ventures, with Sumitomo Corporation making its first strategic investment in the GCC region through this round.
How Zaam Works
Zaam offers customers the opportunity to subscribe to technology devices instead of purchasing them outright. The subscription typically includes options for device upgrades, maintenance, and support. This model benefits users who prefer lower upfront costs and flexibility in device usage, especially in fast-changing tech environments.
Zension Technologies' Mission
Zension Technologies, headquartered in Riyadh, has been operating in the GCC region since 2018. The company's mission, as stated by Khalid Saiduddin, Co-Founder and CEO of Zension Technologies, is to drive behaviors that feed into the circular economy by ensuring tech devices can be used for their full, usable life.
Geographic Focus
Zaam operates primarily in the GCC, which includes countries such as Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, and Oman. The GCC market is well-suited for subscription models given the high mobile penetration and growing appetite for smart technologies.
Potential Features of Zaam
Zaam's offering includes flexible subscription plans tailored for individuals and businesses, access to the latest devices with options to upgrade periodically, device insurance, repair, and support services as part of the subscription, and a digital platform or app for managing subscriptions and customer service.
Partners and Collaborations
While specific partners for Zaam are not widely publicized, companies in similar models often partner with device manufacturers, telecommunication companies, financial institutions or payment providers, service centers or warranty providers, and regional distributors who manage inventory and logistics within the GCC.
For the most updated and detailed information on Zaam and its partners, check the official website or press releases from Zension Technologies. Subscription services often update offerings and partnerships frequently.
If you have specific questions about Zaam’s pricing plans, device selection, or how subscription models work in the GCC region, feel free to ask! It's important to note that Zension has built its offering using five years of data and analytics on customer behaviors, and the GCC region has the world's fastest upgrade cycle at 12-18 months, presenting significant e-waste challenges. Through Zaam, customers will be able to access smartphones, wearables, headphones, and laptops on subscription.
Zaam's strategic investors, including Wa'ed Ventures, Sumitomo Corporation, and Global Ventures, have recognized the potential of technology devices to drive growth in the GCC region, as evidenced by the high demand for smartphones in Saudi Arabia. With Zaam's flexible subscription plans, users can enjoy access to the latest technology devices and maintain a lower upfront cost, making it an attractive option in fast-changing tech environments.
Zaam's mission, as led by Khalid Saiduddin, is to promote behaviors that feed into the circular economy by ensuring tech devices can be used for their full, usable life. This focus on sustainability and responsible consumption aligns with the growing need to address e-waste challenges in the GCC region, particularly given its World's fastest upgrade cycle at 12-18 months.
