US Emerges as Servify’s Largest Market in FY25 with Rs 400 Cr Revenue

Why It Matters

The shift toward the U.S. market and a narrowing loss margin bolster Servify’s growth narrative, strengthening its case for a public listing and attracting investors interested in the expanding after‑sales services sector.

Key Takeaways

• US accounts for 51% of Servify’s FY25 revenue, ~ $48 M
• FY25 revenue rose 16% to Rs 781 cr (~ $94 M)
• Losses narrowed 14% to Rs 85 cr (~ $10 M) ahead of IPO
• Protection‑plan sales generate 97% of income, growing 14% YoY

Pulse Analysis

The global after‑sales services market is gaining momentum as consumers demand seamless warranty and repair experiences across devices. Servify, founded in 2015, has built a platform that aggregates brand‑authorized support for smartphones, gadgets, and appliances, partnering with more than 75 brands. By tapping into the United States—its fastest‑growing region—the company now derives over half of its revenue from a market that values premium protection plans, reflecting broader consumer willingness to pay for extended coverage in mature economies.

Financially, Servify’s FY25 results show a clear scaling trajectory. Revenue climbed to Rs 781 crore (~$94 million), driven largely by a 14% rise in white‑label protection plans that now represent 97% of operating income. While total expenses rose 12% to Rs 876 crore, the firm trimmed its loss to Rs 85 crore (~$10 million), a 14% improvement, indicating better cost management as it expands. The company’s balance sheet remains solid, with cash and bank balances of Rs 145 crore (~$17.5 million), supporting its preparation for a potential IPO slated for later this year.

For investors, Servify’s trajectory underscores a compelling blend of market reach and recurring revenue. Backed by $135 million in venture capital, including a $65 million Series D round, the firm is positioned to capitalize on the growing demand for device‑level service contracts. Its diversified footprint across 40+ countries and a robust partner ecosystem provide a defensible moat, while the shift toward higher‑margin protection plans offers a pathway to profitability. As the company eyes a public listing, analysts will watch its ability to sustain U.S. growth, improve EBITDA, and convert its expanding revenue base into sustainable cash flow.