Device management platform Servify reported a 16% increase in revenue to Rs 787 crore in FY25, up from Rs 679 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC).
The United States emerged as the company’s largest revenue contributor, surpassing India. In FY25, the U.S. alone accounted for 51% of total revenue at Rs 400 crore, up from Rs 291 crore in FY24. Meanwhile, India contributed 42% of the revenue, amounting to Rs 330 crore in FY25. The remaining revenue came from Europe, the UAE, Turkey, and the UK.
Direct operating costs, including underwriting, servicing, mobile handsets, and commission expenses, increased by 19% to Rs 585 crore in FY25, compared to Rs 493 crore in FY24. Employee benefit expenses declined by 5.5% to Rs 151 crore in FY25, down from Rs 160 crore in FY24.
Other expenses, including technology, legal and professional services, and subcontracting, stood at Rs 89 crore in FY25, pushing total expenses to Rs 876 crore, an 11.7% increase from Rs 784 crore in FY24.
Amid topline growth and controlled spconcludeing, the company reduced its losses by 14% to Rs 85 crore in FY25, from Rs 99 crore in FY24. On average, Servify spent Rs 1.12 to earn every rupee in FY25, compared to Rs 1.16 in FY24.
As of March 31, 2025, the company reported current assets worth Rs 571 crore, including cash and bank balances of Rs 145 crore.
About Servify
Servify is a Mumbai-based technology platform founded in 2015 by Sreevathsa Prabhakar. It specializes in product lifecycle management for consumer electronics and appliances, operating as a device management firm. The company follows a B2B2C model, offering protection plans, exmodify programs, and authorized repair services on behalf of major original equipment manufacturers (OEMs).
Servify manages the entire after-sales service ecosystem, including device protection plans, extconcludeed warranties, acquireback and trade-in programs, and repairs through authorized service centers.
Headquartered in Mumbai, Servify has a strong presence across North America, Europe, Turkey, and the Middle East. It partners with leading brands such as Apple, Samsung, HP, Panasonic, and Amazon.
To date, Servify has raised over $135 million, including a $65 million Series D round led by Singularity Growth Opportunities Fund in August 2022.
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