Servify Raises $10 Million in Series D Funding
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Servify Raises $10 Million in Series D Funding

News Desk0

Mumbai-based post-sales service firm Servify has secured a fresh tranche of $10 million in a Series D funding round from investors Bajaj Holdings, Trifecta, and Innoven Capital. The investment was made through a mix of equity and debt, with Bajaj Holdings putting in $4.2 million through equity and the remaining $5.8 million coming from debt financing from Trifecta and Innoven Capital.

Key Highlights

  • Servify has been valued at around $852 million post-investment, as per estimates by TheKredible.
  • The company has raised around $125 million in funding to date.
  • Servify offers brand-authorized after-sales support for mobile phones, personal gadgets, electronics, and home appliances.
  • The platform allows consumers to add their household electronic gadgets onto the platform, store the bills, and access authentic brand-authorized service during or beyond the warranty period.
  • The company has shown a robust financial standing with over 95% year-on-year growth to Rs 611 crore during the fiscal year ending March 2023, although it has reported net losses of Rs 229 crore in the same period.

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