Servify chases the US dream before 2026 IPO

Copyright © HT Digital Streams Limit all rights reserved. RWIT Ghosh 4 min Read 27 Aug 2025, 04:28 PM IST Last year, Servify won a contract to provide its services to enterprise users for one of the largest US telecommunications providers. Photo: Bloomberg Summary The Provider of Smartphone Care and Guarantee expects that 65% of revenue will come from the US within the next two years, currently 45%, founder and CEO Sreevathsa Prabhakar told Mint. This is likely to submit to an IPO in the first quarter of 2026. Servify, smartphone care and guarantee provider, expect its revenue mixture to move heavily to the US, with the country expected to contribute 65% -70% of turnover in the next two years, the founder of the start told Mint. Servevathsa Prabhakar, founder and CEO of Servify, said in an interview: “The US will contribute about 45% in global revenue, India, 38%, and divide the rest between Europe and the Middle East,” said Sreevathsa Prabhakar, founder and CEO of Servify. The company is likely to submit its draft IPO referral to the Securities and Exchange Board of India for the first quarter of 2026. Last year, Servify won a contract to provide its services to enterprise users for one of the US biggest telecomers. While the contract was signed in 2024, the implementation only began in May 2025. The top three overcuses in the US, T-Mobile, AT&T and Verizon, are 85% of the market. Prabhakar said they were on their way to drawing another of the big time soon. In the next two years, Servify expects its revenue mixture to be weighed by 65%to the US, with India with 20%-25%, the Middle East by 12%-15%, and Europe accounting for the rest. Different strokes Servify’s approach in the US differs significantly from how the Indian market, which is much more distributed, handles. In India, most phones and tablets are not sold by original equipment manufacturers (OEMs). Companies such as Apple, Samsung and Google Tap Distribution Partners such as Croma to sell their products. As a result, although these OEMs may have a presence in India, no one has a big market share. In more developed countries, especially the US or those in Europe, telcos are the most important drivers of telephone sales. Companies such as Orange in Europe or AT&T in the US TIE telephone plans to their telecommunications services, which effectively include users in their ecosystem. “We have many partners in the US, such as Bestbuy and Amazon, as well as a few smaller ones. But it’s not going to move the needle. Value creation is in the telcos,” Prabhakar said. The US shift is part of Servify’s broader strategy to target developed countries, secure contracts with telecommunications companies and then move to the distribution side – the reverse of the screenplay it follows in India. In developed markets, the startup positions itself as a platform rather than a third-party service. Prabhakar said it aims to offer ‘original OEM service, global coverage and all the benefits of an OEM support’. Mid -East and Europe in the Middle East The business has so far been stuck with two overcuses, Saudi telecommunications in Saudi Arabia and Etisalat in the United Arab Emirates. Servify wants to cater for nations belonging to the Gulf Cooperation Board – Bahrain, Kuwait, Oman, Qatar and the two mentioned above. “The volumes in this region are small, but it is a high market for the average selling prices. Also, both large formats and telemed the market are also riding the market. In Saudi, more matters are riding more business than in the UAE,” Prabhakar said. The company was slow to raise matters in the GCC last year due to confusion over whether its services would be classified as insurance or a contract of employment. After cleaning these regulatory barriers earlier this year, Prabhakar said the Middle East will be the third largest market to the US and India for the next two years. While Servify has a presence in Europe, there was slow that the business was slow due to bureaucracy. Nevertheless, there is no intention of withdrawing from there, Prabhakar said. “We can choose to work in only a few countries that really make sense to us.” Funding delayed currency was the first to report in January that Servify was looking for a $ 100 million round at a unicorn valuation ($ 1 billion or more). “We couldn’t close the round or even be honest. This is mainly because one of our series of D investors’ documentation has been going on for the past seven months,” Prabhakar said. However, the boot expects to close the round in the next month and wants to include some secondary components in the transaction. It is probably a mixture of 60:40 or 70:30 of primary and secondary capital, Prabhakar said. “We also want to clean our shell table. We have nearly 400 stock options employees. Before we are revealed, we want as a clean table as possible. ‘ Marquee investors in Servify include Blume Ventures, Iron Pillar, Benext, Amtrust Financial and Madhusudhan Kela’s Simgularity AMC. IPO preparations As it uses the public markets next year, the company has appointed two independent directors to its board, although it refused to name them. The company is currently getting its FY25 numbers audited. It closed FY24 with an £ 759 revenue, higher than £ 611 in the previous financial year, according to TracXN data. Losses have significantly narrowed to £ 94 of £ 229 in FY23. “We want to be profitable if we are revealed,” Prabhakar said, adding, “We must be comfortable by the end of the year.” Servify is expected to target $ 250- $ 300 million of its exchange trading at a likely valuation of $ 1.5-2.3 billion, reports Financial Express. Catch all the corporate news and updates on live currency. Download the Mint News app to get daily market updates and live business news. More Topics #Genitstate #Telecom #Startups Read next story