When consumers earn $650/month but want $1,200 devices, ownership fails. Subscriptions win. The Device-as-a-Service market is projected to grow from $43.8B to $262B by 2034. And it's already producing category leaders with hundreds of millions in revenue across emerging markets.
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While device prices keep rising, incomes in emerging markets aren't keeping up. The result: billions of consumers who need technology but can't afford to buy it.
3.1B
people in mobile coverage areas don't use mobile internet. #1 barrier: device cost.
GSMA, 2024
67%
of monthly income — what a smartphone costs the bottom 40% in Sub-Saharan Africa.
GSMA, 2024
$262B
projected DaaS market by 2034, growing at 21.3% CAGR from $43.8B today.
Fortune Business Insights
~2% of annual salary
~25–30%
~35%
~40%
Visual Capitalist iPhone Price Index 2025; Tenscope Affordability Index 2025
The premium device market grows 8% per year. Incomes in emerging markets grow 2–4%. The gap is widening — and subscription is the only model that bridges it.
Financial Content / Counterpoint Research, 2025
THE CATEGORY LEADER IN LATIN AMERICA'S LARGEST MARKET
Meet Allu — Brazil's largest device-as-a-service company. From zero in 2020 to category leader in Latin America's biggest consumer market.
Audited by RSM — top-6 global network
KPMG Emerging Giants 2026All figures refer to Allu Technologies Ltda. operations in Brazil. Revenue and EBITDA audited by RSM, a top-6 global accounting network. Selected for KPMG Emerging Giants 2026 — a program identifying high-growth companies poised for international expansion. Past company performance does not guarantee future results.
Some of the partners who trust us
In markets where consumers can't afford to own, Allu gives them access — and turns every device into a revenue-generating asset.
In Brazil, average monthly income is ~$650 USD. A premium smartphone costs $1,200+. Outright ownership is impossible for most consumers. But a monthly subscription of $30–50? That works. This isn't a niche — it's how a growing share of the world's population accesses technology. And Brazil, with 215 million people, is just one market. India has 1.4 billion. Indonesia 275 million. Nigeria 220 million. The same gap exists everywhere.
Allu acquires devices at wholesale (~$1,100 USD), deploys them to subscribers under monthly contracts, and collects recurring revenue. Each device generates 2.5x its cost over its lifecycle. With a 95.6% collection rate powered by proprietary AI credit scoring, the model produces consistent, predictable cash flow. After the subscription cycle, devices are refurbished and redeployed — multiplying returns across the asset's life.
~$1,100
Device acquisition cost
40% below retail (R$5,700)
~$77/mo
ARPU per device
+89% YoY growth (R$400)
95.6%
Collection rate
Proprietary AI credit scoring
2.5x
Lifecycle revenue per device
Over the subscription period
Acquire at wholesale → Deploy to subscribers → Collect monthly payments → Refurbish and redeploy. Repeat.
All operational data refers to Allu Technologies Ltda. in Brazil. Financials audited by RSM. KPMG recognition refers to the Emerging Giants 2026 selection program. Past performance does not guarantee future results.
Next-generation networks require newer, pricier hardware. The ownership barrier grows with every upgrade cycle.
3x growth in 5G data traffic in India in 2024
Nokia MBiT Report, 2025
2.3 billion mobile money accounts globally process $2 trillion annually. The rails to collect monthly subscription payments at scale now exist across every major emerging market.
$2T processed via mobile money in 2025
GSMA, 2025
The embedded finance market is growing from $108B to $1.2 trillion by 2033. Device subscriptions can be bundled into telecom plans, banking apps, and e-commerce platforms.
$108B → $1.2T by 2033 (28.5% CAGR)
IMARC Group, 2025
In emerging markets, a smartphone isn't a luxury — it's a production tool. Brazil's creator economy alone is projected to reach $33B by 2034. When a device generates income, the subscription pays for itself.
$33B creator economy in Brazil by 2034
IMARC Group, 2025
“I looked at the model closely — the devices are real, the subscribers are paying, and the collection rate is above 95%. The fundamentals checked out.”
Daniel F.
Participant in Allu's Brazilian debenture program since 2022
“Allu's numbers were audited and verified. Low delinquency, real asset backing. That's what convinced me.”
Renata S., CFP
Participant in Allu's Brazilian debenture program since 2024
Translated from Portuguese. These testimonials are from participants in Allu's regulated Brazilian debenture program. Their experiences may not be representative and do not indicate or guarantee any outcome for international investors. Any future international product, if offered, may differ materially in structure, terms, and risk from Allu's Brazilian program.
If you're an institutional investor, family office, or accredited investor, schedule a private call with Pedro Sant'Anna, our co-founder and COO, for a detailed walkthrough of Allu's operations, financials, and international roadmap.
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