Vakrangee Limited — Capital/Financing Update 2021

Oct 18, 2021

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PRESS RELEASE

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VAKRANGEE LIMITED

VAKRANGEE ALLIANCE WITH SERVIFY TO PROVIDE AFTERSALES DEVICE CARE SOLUTIONS

• Trade-in Point Services - Customers will be able to sell their second-hand phones and get the cash/account transfers at their nearest Vakrangee Kendra Outlets or buy an assured buyback scheme for their mobile device from the BharatEasy app.

• Device collection Point - Vakrangee Kendra will be the one-stop-shop for all customers Phone service requirements. Customers can drop off their Mobile devices at Vakrangee Kendra for repairs, Servify will facilitate the logistics of these devices from Vakrangee Kendra’s and get them repaired at brand authorised service centers and returned.

• Plan Sales - Since Vakrangee Kendras help customers order devices from e-Commerce platforms, there is an opportunity of upselling warranty plans through Vakrangee Kendra and BharatEasy mobile app.

Mumbai, October 18, 2021: Vakrangee Limited (VL) has tied up with Servify (Service Lee Technologies Private Limited) to provide after-sales device care solutions to the unserved and underserved population of India through a strategic partnership.

Servify offers the world’s most advanced post-purchase service platform to deliver great customer experience. Integrating multiple partners of the post-sales service ecosystem on a tech-driven unified intelligent platform, Servify provides Device Lifecycle Management Services for all devices.

Vakrangee will act as an extended arm to facilitate extended care and product protection solutions it offers on devices that touch our daily lives. Customers will get a quick and hasslefree service experience and access to an end-to-end service delivery through Vakrangee Kendra outlets.

Vakrangee will be providing the following services from its Nextgen Vakrangee Kendra Outlets.

• Trade-in Point Services - There is a huge second-hand fragmented phone market in India. Vakrangee Kendra’s will offer these services through its network of NextGen kendras.

• Device Service collection Point - Customers can drop their device at the nearest Kendra for repairs and thus act as extended service locations for Servify across the breadth and width of India.

• Warranty Plan Sales - Vakrangee Kendras will sell below plans offered by Servify:

  • Screen Protection

  • Extended Warranty

  • Damage Protection Plans

Commenting on this partnership, Mr. Dinesh Nandwana, Managing Director & Group CEO, Vakrangee Ltd. said, “We are happy to partner with Servify to facilitate our customers with endto-end Mobile Devices Lifecycle Management services in both urban as well as rural remote areas.

With this partnership, we have strategically added a complete bouquet of after-sales device care solutions at our Nextgen Kendras making them into a one-stop shop for all the Mobile Device requirements of our customers. This tie-up shall help consumers especially in the unserved and underserved rural locations to get services such as the sale of their second-hand mobiles, repair services, and getting access to various warranty plans.”

Commenting on this partnership, Mr. Sreevathsa Prabhakar, Founder, Servify said, “It’s been a challenge for most businesses to reach nooks and corners of our country when it comes to offering services quick and reliable like the one living in city experiences. Vakrangee is changing the game by enabling last mile connectivity through the Vakrangee Kendras. Our partnership will ensure quicker and reliable support is now available even in the remotest village of our country, as we ride on their vast network.”

This tie-up further expands our bouquet of services available to citizens through Vakrangee Kendra. Nextgen Vakrangee Kendras exclusively offer a comprehensive range of products and services across banking, insurance, ATM, Assisted e-Commerce, e-Governance, and logistics. Vakrangee currently has ~13,200 Nextgen Vakrangee Kendras spread across 28 States & UTs, 560+ districts and 4,860+ postal codes. More than 70% of these outlets are in Tier 5 and 6 towns.

About Vakrangee Limited (BSE Code: 511431; NSE Code: VAKRANGEE)

Incorporated in 1990, Vakrangee is the unique technology-driven company focused on building India's largest network of last-mile retail outlets to deliver real-time Banking & Financial Services, ATM, insurance, e-governance, e-commerce, and logistics services to the unserved rural, semi-urban, and urban markets. The Assisted Digital Convenience stores are called as “Vakrangee Kendra” which acts as the “One-stop shop” for availing various services and Products.

About Servify

Servify integrates multiple OEM Brands and their sales and service ecosystem through its product lifecycle management platform, to deliver great after-sales service experience. Started in 2015, India Headquartered Servify has spread its reach in multiple countries across the globe, partnering with over 75 OEM brands including top mobile device brands, retailers, distributors, insurers, service providers and carriers.

The Servify platform processes more than 3 million transactions monthly, with 250k+ platform users spread across retailers, service centres, contact centres and administration teams worldwide serving millions of consumers.

For further information, please contact at: Email: investor@vakrangee.in