13:00 uur 23-09-2020

Servify haalt $ 23 miljoen op in serie C, geleid door Iron Pillar

~ Kapitaal dat moet worden gebruikt voor verdere wereldwijde expansie nadat de omzet in 2020 is verviervoudigd

~ Ziet deelname van bestaande investeerders en meerdere wereldwijde investeerders

MUMBAI-(BUSINESS WIRE)- Servify, het apparaat levenscyclus management platform dat meerdere OEM merken en hun verkoop en service ecosysteem integreert om grote after-sales service ervaring te leveren kondigde vandaag aan dat ze $23M in Series C financiering hebben opgehaald. Deze ronde werd geleid door zijn bestaande investeerder Iron Pillar, een op India gerichte durfkapitaal investeerder uit zijn onlangs afgesloten Top Up Fund.

Naast alle bestaande investeerders zoals Blume, Beenext en Tetrao SPF, werd in deze financieringsronde ook deelgenomen door fondsen beheerd door Global Alternatives Investor 57 Stars, meerdere strategische investeerders zoals Sparkle Fund (een investeringsarm van DMI Finance), SF Roofdeck Capital LLC (investeringsafdeling van Silicon Valley Investment Bank FT Partners), Go Ventures (investeringsafdeling van Go PLC, een Maltese geïntegreerd telecommunicatiebedrijf) en Madhu Kela Family Office. Servify’s bestaande Venture Debt provider Trifecta Capital nam ook deel aan de ronde.

Servify Raises $23 Million in Series C, Led by Iron Pillar

~ Capital to be used for further global expansion after revenue quadrupled in 2020

~ Sees participation from existing investors and multiple global investors

MUMBAI–(BUSINESS WIRE)– Servify, the device lifecycle management platform that integrates multiple OEM Brands and their sales and service ecosystem to deliver great after-sales service experience today announced that they have raised $23M in Series C financing. This round was led by its existing investor Iron Pillar, an India focused venture growth investor from its recently concluded Top Up Fund.

In addition to all the existing investors such as Blume, Beenext and Tetrao SPF, this funding round also saw participation from funds managed by Global Alternatives Investor 57 Stars, multiple strategic investors like Sparkle Fund (an investment arm of DMI Finance), SF Roofdeck Capital LLC (Investment arm of Silicon Valley Investment Bank FT Partners), Go Ventures (investment arm of Go PLC, a Maltese integrated telecommunications company) and Madhu Kela Family Office. Servify’s existing Venture Debt provider Trifecta Capital also participated in the round.

Sreevathsa Prabhakar, Founder, Servify said, “It is very satisfying as we have more than quadrupled our revenue in 2020 till date, and raised funds for expansion even during the tough economic climate. This further strengthens our belief that we have built a globally scalable sound business that is not only trusted by large brands, but also the investor community.”

Servify runs Device Protection programs for Apple, Samsung, OnePlus, Xiaomi, Nokia, Motorola, Airtel etc. and also runs device exchange/buyback programs for Apple, Samsung and OnePlus across their authorised sales channels. Servify is headquartered in Mumbai, India and has subsidiaries in 8 countries. Servify aims to utilise the funding to scale up its global operations and further enhance its technology platform.

Anand Prasanna, Managing Partner at Iron Pillar, added “Servify is a unique business built from India for global markets with no pure comparable companies anywhere. Their software is also solving a hard problem of after sales service experience for marquee brands with very high standards. We are keenly interested in unique businesses addressing hard problems in very large and global markets and are excited to continue to back the company in its next phase of growth. Stellar execution by Servify’s team combined with its differentiated technology platform have led to the company’s impressive growth this year despite Covid-19 related challenges.”

About Servify:

Servify, the device lifecycle management platform, integrates multiple OEM Brands and their sales and service ecosystem to deliver great after-sales service experience. Started in 2015, India Headquartered Servify has spread its reach in 50+ countries across the globe. Partnering with 50+ brands including top mobile device brands, retailers, distributors, insurers, service providers, and carriers. The platform today supports 3mn+ monthly transactions. In just 5 years of its operation, it already has over 43,000+ retail locations connected and 16,000+ service partners integrated, among others.

Additional information on Servify is available at www.servify.tech


Debapriya Ghosh Biswas


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