Servify eyes acquisitions to boost valuation ahead of IPO

“We said let's do this (acquisitions), because it only makes us that much bigger as a company. We can also probably demand a premium when we do head to the public markets,” according to Prabhakar.

Higher expenses in FY25 were driven by international expansion and consolidation of overseas operations, according to Prabhakar, jumping to ₹876 crore in FY25 from ₹784 crore a year earlier. “While setting up new markets and verticals you need to invest accordingly. There's setting up licences, offices, people. But we're optimising for the long run.”

Servify has paused hiring for roles in development and products, as well as customer support, as around 60% of the code is written by AI. “Our principle is that we absolutely not let someone go unless there's really no role for them,” Prabhakar said.

Rwit Ghosh

Rwit is a correspondent at Mint covering India’s burgeoning startup ecosystem and the venture capital and private equity firms that back them. Sitting out of Bengaluru, he writes on the new-age tech businesses that the city and the rest of the country seems to continuously be birthing. While Rwit’s interests lie in covering the new wave of deeptech, AI, SaaS and consumer tech businesses, he’ll write on consumer brands and fintech (if someone repeatedly explains these sectors to him). When he’s not scrolling through the Indian startup forums on Reddit, Rwit is usually trying to figure out early signs of what’s to come next in the ecosystem. As a result, he’s been early to spot trends like VCs becoming more active in backing deeptech, funding bottlenecks for agentic AI startups and a potential revival in edtech through AI. Prior to his ongoing stint at Mint, Rwit worked at NDTV Profit as a social media producer while also working on his own stories for the TV channel after he graduated from the Asian College of Journalism in Chennai. When he’s not working on stories, he can be found trying to figure out where he should go to eat next in Bengaluru, or what his next tattoo should look like. If you see him in the wild, you should ask him how he pronounces his name. He’s definitely not tired of being asked about it.