Servify, a Mumbai based startup that works with multiple OEMs globally as their partner in delivering superior product ownership experience, announces the acquisition of 247around, a unique service platform in India, that specialises in at-home service of home appliances, consumer electronics & white goods. This acquisition will further strengthen Servify’s service fulfilment network beyond smart products and help its expansion into new product categories.
Sreevathsa Prabhakar, Founder of Servify, said “We keep looking for like minded people and complementing offerings to fast track our growth. With 247around, we’ve not only onboarded a great team that is aligned to our vision completely, but also a technology and fulfillment platform that will help us scale the home appliances and electronics category.”
The acquisition brings 247around’s existing 150+ partner brands into Servify’s fold as well as a robust service network across ~19,000+ PIN codes of India. “We are excited as this acquisition will enable 247around to scale further with Servify and participate in the ~$100+ billion post-sale appliance lifecycle market globally,” said Nitin Malhotra, CEO and Co-Founder of 247around.
Adding to this, Anuj Aggarwal, CTO and Co-Founder of 247around, said, “Integration of Servify and 247around platforms will help us deliver a true 360 degree experience to our partners and customers, across multiple product categories. We are delighted to be part of a team that has established great scale in such a short time, and continues to grow immensely.”
Following the acquisition, 247around will operate as a group company of Servify. The transaction is expected to close in the next few weeks.
About Servify
Servify works with multiple OEM brands globally and integrates its product lifecycle platform to run their extended coverage and smart exchange/upgrade programs. The Mumbai headquartered company has spread its reach to multiple countries (US, Canada, EU, UK, Turkey, Russia, UAE, KSA and other GCC countries) in a short span of 6 years, and has partnered with over 50 OEM brands and thousands of their ecosystem partners. The Servify platform processes more than 3 million transactions monthly, with over 250k Platform users spread across retailers, service centres, contact centres and administration teams worldwide serving millions of consumers.
Source: Mint