Servify, a post-sales service company said that it received Rs 84 crore in a Series D round led by Bajaj Holdings, Trifecta, and Innoven Capital, with a combination of debt and equity.
According to Servify's regulatory filings with the registrar of companies (RoC), the board of directors approved a special resolution to issue 1,16,555 compulsorily convertible preference shares (CCPS) and 500 non-convertible debentures for a total value of Rs 84 crore, reported media.
Bajaj Holdings made an equity investment of Rs 34 crore, with Trifecta and Innoven Capital making equal debt financing contributions to the remaining sum.
Servify provides brand-approved post-purchase assistance for smartphones, tablets, laptops, and household goods. Customers can add their household electronic devices to the platform, keep track of their payments, and get genuine, brand-authorized service either within or after the warranty term.
With the completion of the current Series D round led by Singularity Growth Opportunity Fund, the Mumbai-based company has raised approximately USD 125 million to far, including USD 65 million.
The device management firm registered over 95 per cent year-on-year growth to Rs 611 crore during the fiscal year ending March 2023. The company is yet to file its annual results for FY24.
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