12.21 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	12.21

* These investment figures are indicative

IFC anticipates that the Project will increase access to and quality of after-sales services and protection for consumer electronics and various other categories of products globally. By leveraging its AI/ML-led technology platform and access to partner Brands’ parts and service centers, the Company is enabling repairs/replacements that are faster, cheaper, more reliable, and more transparent. The Project is expected to further boost competition and innovation in the market. The Company will use the funding to expand into other markets and related product categories and partner with more brands, driving broader industry innovation and growth.

IFC’s additionality in this Project is mainly non-financial in nature. IFC is expected to help enhance the Company’s practices surrounding corporate governance and E&S standards. IFC’s investment will also support the company in expansion in other emerging markets, including Latin America and South-east Asia.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Number of Customers	individuals		Not Available	Not Available	Not Available

Project activities of this Category C investment materially meet the requirements under Performance Standards (PS) 1,2, 3, and 4. (PS) 5,6,7,8 do not apply. The Company manages E&S risks in compliance with applicable legal regulatory requirements, permit conditions, and industry norms. Servify has approved a risk commensurate EHS policy. It has an ESMS that follows the IFC PS-1 structure, including stakeholder analysis and stakeholder engagement and communication mechanism. Accordingly, it has publicly disclosed and communicated its commitment to business relevant and applicable standards such as: i) a third party code of conduct that commits to legal compliance and upholding human rights and health and safety; ii) an e-waste policy; iii) security and data privacy; and iv) a whistleblower policy. ESG related trainings are conducted inhouse. As a leaseholder tenant, Servify participates in emergency mock drills organized by the building management team. Servify has identified ESG KPIs that are tracked and periodically audited. Servify takes necessary actions on the findings of such audits. Servify's centralized compliance team assures and monitors business licenses compliance, legal and secretarial compliances, human resource compliances across its global operations. Servify has comprehensive HR policy and procedures covering relevant legal and PS-2 aspects. It has a code of conduct that applies to all employees, including contractors and third party. Other relevant policies include diversity, inclusion, and equal opportunity policy, prevention of harassment (including sexual harassment) and grievance redressal mechanism. Core policies apply to all operations globally while country level legal compliances are monitored by HR reps and centrally from India. Servify has good monitoring and oversight mechanism on this. The scope of annual ESG audits also cover PS-2 review and gaps so identified are followed up for closure. Terms of employment and conditions are transparently laid out in the appointment letters, including place of work, date of joining, designation, department, salaries structure with deductions, hours of work, reporting responsibilities, leaves, public holidays, any other entitlements, and service termination clause. Details of HR policies are communicated via induction trainings and oracle based staff login intranet. Changes in policies are also communicated via same channels. No deviations from legal minimums or working hour based salaries/wages were noticed. Working hours generally follow statutory limits. The company provides adequate avenues to its staff to raise workplace concerns, has provided adequate GRM with representation from non management cadre, and compensates staff at industry norms. Servify has strong Diversity, Inclusion and Equal Opportunity Policy. It further has an operational GRM and PoSH in place. Company has formal GRM and a GRM committee generally in line with applicable law with a mix of management (one head of dept., from where grievance emerge) and non management representation (three from executive cadre). Servify operations are restricted to white collar back office activities. There are no significant emissions to air, surface or groundwater. Waste is managed in line with applicable municipal rules. Company operations do not have any significant adverse risks or potential impacts directly to the community. Relevant to company operations, affected communities will include pedestrians (while third party logistic service providers' vehicles ply on the road), and key risks would related to potential GBVH/harassment concerns during doorstep services (e.g., home collection and dropping off electronic devices). Going forward company will enhance its customer interaction protocol/policy and communicate the same to all stakeholders via an updated third party code of conduct. Servify has provided communication channels for receiving any grievance or complaints from its customers.