• Servify

  Led · Series D · Sep 2024

  Servify provides brand-approved post-purchase assistance, allowing customers to add devices, store bills, and get genuine, brand-authorized service during or after warranty. The platform covers smartphones, tablets, laptops and household appliances. The company is reported to be valued at approximately Rs 7,074 crore (about $852 million) after the latest allocation. For the fiscal year ended March 2023 Servify reported revenue of Rs 611 crore, a greater than 95% year‑over‑year increase, and net losses of Rs 229 crore. The Mumbai-based company has raised roughly $125 million to date, including a $65 million Series D tranche led by Singularity Growth Opportunity Fund in 2022. Prior external investors include Iron Pillor, Beenext, and Blume Ventures. Servify provides a platform that manages the lifecycle of electronic devices for manufacturers, offering whitelabeled after-sales services such as damage protection, extended warranties, trade-ins, upgrades and financing. It works with over 75 device manufacturers including Apple, Samsung, OnePlus and Xiaomi, and its platform covers smartphones, tablets, laptops and wearables. The company is operational in more than 40 countries, with India accounting for 60% of its business, and employs more than 700 people globally. Servify is on track for an annual revenue run rate of over $130 million and said it aims to become profitable as early as next month. The startup plans to expand into Latin America this financial year and is exploring a debut in Japan, and intends to extend its coverage to home appliances and electric vehicles. It also plans to use new funding for acquisitions and has bought startups since its last round, including 247Around and Germany-based WebToGo. Servify operates a white-label device lifecycle management platform that handles after-sales services such as device protection, exchange and trade-in programs for enterprises. It works with more than 50 brands and reaches over 50 markets, partnering with customers including Apple, Samsung, OnePlus, Xiaomi, Nokia, Motorola and Airtel. With Apple it operates in three geographies and with OnePlus in over half a dozen markets. The company plans to expand its expertise into new product categories and deepen its international reach. Financially, Servify was profitable in the financial year that ended in March; its business halted during April–May lockdowns but fully recovered thereafter. The startup says it has more than quadrupled revenue in 2020 to date and did not lay off staff or cut salaries during the pandemic. Servify is a tech platform built to improve service experience across product categories, starting with electronic devices. It provides a set of software and technology solutions that help device brands, retailers, distributors, insurers and carriers deliver improved post-purchase customer experiences. Led by founder and CEO Sreevathsa Prabhakar, the company works with partners including Amazon, Apple, Huawei, Motorola/Lenovo, Nokia, OnePlus, Xiaomi and Reliance Jio, among others. Servify has built a nearly profitable business in India, has recently launched operations in the U.S., and is setting up operations in Europe. The company is using new funding to add senior managers and build new technology solutions for its clients. Servify builds a device ownership platform that connects consumers with OEMs, retailers, carriers and service providers to manage post-purchase experiences for mobiles, gadgets, electronics and home appliances. The platform integrates with brands, resellers and the service ecosystem through deeper integrations to enable seamless after-sales service. Servify reports it has doubled its user base recently and now manages over half a million devices on its platform. The company plans to deploy the new funding to enhance its product, service and technology offerings and to grow its product, engineering and business teams. Servify is also building a centralized service and repair facility in Mumbai, which has received authorizations from multiple brands and was expected to go live in early December. The company was started in late 2015 and is headquartered in Mumbai.

• Ujjivan Financial Services

  Participated · Equity · Mar 2015

  Ujjivan Financial Services was founded in 2005 to provide responsible access to formal credit for base-of-the-pyramid communities. It offers group-lending microfinance products historically targeted at women and has expanded into individual micro-entrepreneur loans for equipment, livestock and other needs. Ujjivan has helped more than two million unbanked and under-banked customers and operates 423 branches across 24 states, with major presence in Karnataka, West Bengal, Maharashtra, Tamil Nadu and Uttar Pradesh. The firm runs social development and financial-literacy programs (225 social programs reaching over 346,700 beneficiaries in 2014; 242,421 enrolled in financial literacy, with 82% graduation and 77,382 new bank accounts). Ujjivan was one of the first MFIs in India to receive SMART certification for client protection, and its founder Samit Ghosh is president of the Microfinance Institution Network (MFIN). As part of an equity financing round of INR 6,000m that includes secondary transactions, the company is raising capital to expand its geographic footprint and increase lending. Ujjivan Financial Services is a Bangalore-based microfinance institution focused on providing financial services to the urban and semi-urban poor. The company completed a fourth round of equity infusion, raising Rs 94 crore in an oversubscribed placement. The new capital will increase its paid-up capital and reserves to over Rs 108 crore, making Ujjivan the fourth highest capitalised microfinance institution in India. Proceeds are earmarked for major expansion plans over the next year and to meet enhanced capital adequacy norms set by the Reserve Bank of India. The transaction also included a mechanism to provide liquidity to individual investors, supporting the company’s effort to balance social mission with market-driven private equity. Grameen Capital India served as the exclusive equity advisor on the deal.

No current team members are available.