Servify, a firm specializing in post-sales service, has secured Rs.84 crore or $10 million approx. for its Series D round from Bajaj Holdings, Trifecta and Innoven Capital through both equity and debt options.

As per the regulatory filings with the Registrar of Companies (RoC), Servify's board has approved a special resolution to offer 500 non-convertible debentures and 1,16,555 compulsorily convertible preference shares (CCPS) for an overall sum of Rs.84 crore or $10 million.

Equity investment of Rs.34 crore was made by Bajaj Holdings, while the remaining funds were contributed equally through debt financing by Trifecta and Innoven Capital. As estimated by TheKredible, post-allotment valuation of the company stands at approximately Rs. 7,074 crore or $852 million.

Servify provides authorized post-sales support for mobile phones, personal gadgets, electronics and household appliances. Through its platform, customers can register their electronic devices, save receipts and obtain genuine brand-authorized service during or after the warranty period.

The company was founded in 2022 in Mumbai and till now they raised approximately $125 million. precisely, a sum of $65 million was secured in ongoing Series D funding aided by Singularity Growth Opportunity Fund.

The startup data intelligence platform TheKredible in their reports revealed that Iron Pillar held the biggest external stake of 28.8% before this round. Following closely behind were Beenext and Blume Ventures with ownership percentages of 9.87% and 8.20%, respectively in the company.

During March 2023, they faced net losses of Rs.229 crore Servify successfully managed to fetch over 95% year-on-year revenue growth to Rs.611 crore for the same period.

The company is yet declare its annual financial results for the fiscal year 2024 and might be keenly watched by stakeholders for its progress and financial position in the coming periods.