Servify, a leading post-sales service platform, has raised ₹84 crore (approximately $10 million) in a new tranche of its Series D funding round. The investment, which combines equity and debt, was led by Bajaj Holdings, Trifecta, and Innoven Capital. As per regulatory filings, Servify’s board approved the issuance of 500 non-convertible debentures and 1,16,555 compulsorily convertible preference shares (CCPS) for the total amount raised.
Bajaj Holdings contributed ₹34 crore through equity investment, while Trifecta and Innoven Capital provided the remaining amount through debt financing. The company’s valuation stands at approximately ₹7,074 crore ($852 million) following this funding round.
Since its inception, the Mumbai-based company has raised about $125 million, including $65 million from the ongoing Series D round led by Singularity Growth Opportunity Fund in 2022. Prior to this latest funding, Iron Pillar was Servify’s largest external stakeholder with a 28.8% stake, followed by Beenext and Blume Ventures, holding 9.87% and 8.20% respectively.
Financially, Servify has demonstrated significant growth, achieving over 95% year-on-year revenue growth to ₹611 crore during the fiscal year ending March 2023. However, the company reported net losses of ₹229 crore for the same period. The firm has yet to file its annual financial results for FY24.
Servify’s latest funding round underscores its commitment to enhancing after-sales service experiences and expanding its market presence in the tech support and device management sectors.