Published On: Wed, Sep 23rd, 2020

Apple partner Servify raises $23 million to scale the inclination after-sales and government height overseas

Servify, a Mumbai-headquartered startup that operates a device lifecycle government height and works deeply with brands including Apple and Samsung in a series of geographies, has lifted $23 million in a new financing round.

The Series C financing turn for a five-year-old startup was led by existent financier Iron Pillar, and other existent investors including Blume Ventures, Beenext, and Tetrao SPF participated in a round. The new turn pushes Servify’s to-date lift to $48 million.

Servify works with enterprises such as Apple, Samsung, OnePlus, Xiaomi, Nokia, Motorola, and Airtel and handles after-sales services such as device protection, exchange, and trade-in programs for a partners, explained Sreevathsa Prabhakar, owner and arch executive of a startup, in an talk with TechCrunch.

The startup, that offers a services by a whitelabel arrangement with enterprises, works with over 50 brands and reaches over 50 markets. With Apple, it works in 3 geographies, and in over half a dozen with OnePlus .

The new round, that was oversubscribed, will assistance a startup enhance a imagination in many new product categories and lower a strech in general markets, pronounced Prabhakar, who has some-more than a decade of knowledge in overseeing after-sales and other device government businesses.

“We are keenly meddlesome in singular businesses addressing tough problems in really vast and tellurian markets and are vehement to continue to behind a association in a subsequent proviso of growth. Stellar execution by Servify’s group total with a differentiated record height have led to a company’s considerable enlargement this year notwithstanding Covid-19 associated challenges,” pronounced Anand Prasanna, Managing Partner during Iron Pillar, in a statement.

The coronavirus conflict has deeply impacted a business of Servify, which was essential in a financial year that finished in March. The month of Apr and May, when many countries enforced lockdowns, a startup’s business reached a finish halt. But in a months since, it has not usually fully-recovered though grown to new heights, pronounced Prabhakar. During no time, a association laid off any worker or reduced their salaries, he said.

“It is really gratifying as we have some-more than quadrupled a income in 2020 compartment date, and lifted supports for enlargement even during a tough mercantile climate. This serve strengthens a faith that we have built a globally scalable sound business that is not usually devoted by vast brands, though also a financier community,” he said.

TechCrunch asked Prabhakar if he would ever cruise enchanting with business directly. He pronounced a stream indication of Servify enables it to acquire business during no assign and he thinks it’s a right indication to say relocating forward.

Prabhakar pronounced he is carefree that some-more try firms will demeanour into this new category, that has traditionally does not accept most courtesy since it did not fit into existent spaces such as SaaS. He pronounced Servify has proven that this difficulty is essential and thriving.

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