Servify Raises $23 Million in Series C, Led by Iron Pillar
23.9.2020 10:45:00 EEST | Business Wire | Press release
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
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200923005024/en/
Contact information
Debapriya Ghosh Biswas
debapriya.g@servify.in
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
ClickHouse Expands Collaboration With Microsoft, Bringing Fabric Integration, Deeper OneLake Interoperability, and Enterprise Deployment Flexibility29.9.2026 10:30:00 EEST | Press release
ClickHouse, the company behind the open-source, real-time analytical database that has become the data layer for the AI era, today at The European Microsoft Fabric + SQL Community Conference announced a significant expansion of its strategic collaboration with Microsoft. The announcement encompasses four major milestones: the launch of the native ClickHouse workload for Microsoft Fabric, the general availability of OneLake read, the public preview of OneLake write, and the availability of ClickHouse Bring Your Own Cloud (BYOC) in the Microsoft Marketplace. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260929947201/en/ ClickHouse expands collaboration with Microsoft This expansion builds on ClickHouse's growing presence within the Microsoft ecosystem, where data-intensive organizations rely on ClickHouse Cloud on Azure to power real-time observability, business intelligence, AI/ML pipelines, and analytical applications at sc
Opengear Expands Reach Through Pan-European Distribution Agreement with Ingram Micro29.9.2026 10:01:00 EEST | Press release
Opengear, a Digi International company (NASDAQ: DGII) and global leader in out-of-band management solutions, has signed its first pan-European distribution agreement with Ingram Micro, one of the world’s largest technology distributors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260929668925/en/ Opengear Expands Reach Through Pan-European Distribution Agreement with Ingram Micro The agreement will give resellers in participating Ingram Micro countries access to Opengear’s portfolio, supported by Ingram Micro's regional infrastructure, logistics capabilities and partner network. This expands Opengear’s existing reach in the UK, Ireland, Spain, Germany, Italy, France, Belgium and Luxembourg, and brings its network resilience platform to resellers and end-users in additional European markets, such as Switzerland, Hungary, and Czech Republic. “This agreement with Ingram Micro marks a significant milestone in Opengear’s EMEA
Estonia and Owkin Partner to Advance Sovereign AI in Biology29.9.2026 09:00:00 EEST | Press release
Estonia, led by the National Applied Research Center Metrosert, and Owkin today announced a collaboration to advance sovereign AI in biological and health research, working with Metrosert, Estonia’s state-owned applied research organisation. The collaboration will evaluate how K Pro, Owkin’s AI scientist platform, can help approved researchers work with complex Estonian health data inside secure national infrastructure, enabling reproducible analysis, and faster generation of scientific insight while preserving data sovereignty. The first phase will focus on selected Estonian health-data cohorts, with Owkin and Metrosert also exploring high-value research areas including oncology, where linked clinical, molecular, imaging and treatment-outcome data could support future biomedical research. Estonia has built one of the world’s most advanced digital public infrastructures and holds population-scale health and biomedical data assets. The partnership will explore how these foundations can
Freemarket and Axiym launch LIQUI-DT™ – real-time business access to primary-market USD₮ from Tether29.9.2026 09:00:00 EEST | Press release
Freemarket and Axiym today launched a world-first service that gives businesses 24/7 real-time access to freshly minted, primary-market USD₮ issued by Tether. LIQUI-DTTM gives businesses compliant access to primary market stablecoins inside a fully regulated payment ecosystem via Freemarket’s global payment network. In audited trials, clients have minted or burned more than $300 million to date. Institutional users and high-volume traders will benefit from superior price certainty and direct liquidity giving them budgetary control. As the USD₮ is minted directly in the primary market, treasury and compliance teams have clear provenance for internal reporting 1. The LIQUI-DT service works because while no single party owns the whole stack, it is integrated into the Freemarket network. The combination of Freemarket’s compliant fiat rails and payment network, Axiym’s liquidity engine and on-chain settlement layer and Tether’s primary market issuance creates a regulated payments network wi
Jumio Completes Worldwide Rollout of selfie.DONE™, Bringing Privacy-Focused Reusable Identity to EMEA29.9.2026 08:00:00 EEST | Press release
Jumio, the leading provider of AI-powered identity intelligence, today announced the expansion of its reusable identity solution, selfie.DONE, across Europe, the Middle East, and Africa. This launch marks the final phase of Jumio’s selfie.DONE rollout, following successful launches in Latin America, North America, and Asia-Pacific — making true reusable identity available worldwide wherever Jumio operates. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260928989719/en/ In regulated EMEA markets, organizations face the dual challenge of eliminating onboarding friction while adhering to stringent privacy standards and regulatory frameworks, including GDPR, PSD2, AMLD, and other evolving regulatory compliance requirements. selfie.DONE addresses this challenge with a privacy-focused, consent-based architecture. Instead of forcing enrolled users through repetitive ID document scans, selfie.DONE establishes a selfie-first fast lan
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom