Servify Boosts Funding with INR 84 Cr Investment Led by Bajaj Holdings, Trifecta, and Innoven Capital Servify specialises in providing brand-authorised after-sales support for a range of consumer electronics, including mobile phones, personal gadgets, and home appliances.

By Entrepreneur Staff

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Freepik

Mumbai-based post-sales service firm Servify has secured INR 84 crore (approximately USD 10 million) in a fresh tranche of its Series D funding round, featuring a mix of equity and debt investments from Bajaj Holdings, Trifecta, and Innoven Capital.

Bajaj Holdings contributed INR 34 crore in equity, while Trifecta and Innoven Capital each provided debt financing to complete the total amount.

To facilitate this capital infusion, Servify's board passed a special resolution to issue 500 non-convertible debentures and 1,16,555 compulsorily convertible preference shares (CCPS) for a total consideration of INR 84 crore or USD 10 million, as per its recent filings with the Registrar of Companies (RoC).

Servify specialises in providing brand-authorised after-sales support for a range of consumer electronics, including mobile phones, personal gadgets, and home appliances. Through its platform, consumers can add their electronic devices, store purchase bills, and access brand-authorised services both during and after the warranty period.

With this latest round, Servify's total fundraising to date stands at around USD 125 million. This includes USD 65 million raised in 2022 during the ongoing Series D round, which was led by Singularity Growth Opportunity Fund.

In terms of financial performance, Servify claims that it reported a robust 95% year-on-year growth, generating INR 611 crore in revenue during the fiscal year ending March 2023. However, the company has yet to disclose its annual results for FY24.

Entrepreneur Staff

Entrepreneur Staff

Editor

For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.
Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Leadership

I've Seen 25 Years of Change in My Career — These 3 Lessons Every Business Owner Should Know

The business world moves fast, and you're already behind if you're not keeping up!

Living

The 3 Lifestyle Habits That Made Me Sharper, Stronger and More Successful

These three simple yet powerful lifestyle changes transformed my productivity, energy and mindset. Here's how you can do the same.

News and Trends

Kolkata-Based Lab-Grown Diamond Brand Jewelbox Secures USD 3.2 Mn

The startup will primarily use the funds to expand its retail footprint, growing from eight stores to 30 locations by the end of this year.

Science & Technology

The Deepfake Threat is Real. Here Are 3 Ways to Protect Your Business

The rising use of deepfakes is a growing threat to businesses and society as technology advances. Here are three tips for companies to combat this threat.

Science & Technology

How Can Marketers Use ChatGPT? Here Are the Top 11 Uses.

With the recent developments in AI and the popularity of ChatGPT, you may want to integrate AI into your marketing practices. Find out how.