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FT Partners Advises Servify on its $23,000,000 Series C Financing

Overview of Transaction

  • On September 23, 2020, Servify announced that it has raised $23 million in Series C financing led by Iron Pillar, with participation from existing investors Blume, BEENEXT, and Tetrao SPF
  • The round also saw participation from funds managed by Global Alternatives Investor 57 Stars, Sparkle Fund, Go Ventures, and Madhu Kela Family Office
  • Servify is a leading device lifecycle management platform that integrates multiple OEM brands and their sales and service ecosystem to deliver great after-sales service experience
  • Headquartered in Mumbai, Servify partners with leading brands such as Apple, Samsung, Xiaomi, Nokia and Motorola, and has a presence in over 50 countries across the globe
  • Founded in 2015, Servify has over 43,000 retail locations connected and more than 16,000 service partners integrated, and its platform currently supports 3 million+ monthly transactions

Significance of Transaction

  • Servify aims to utilize the new funding to scale up its global operations and further enhance its technology platform

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to Servify
  • This transaction highlights FT Partners’ deep domain expertise and leadership across the Warranty space and the InsurTech sector broadly
  • This transaction also builds on FT Partners’ track record of executing deals across developed and emerging markets