SERV TECHNOLOGY

SUMMARY VIDEO

COMPANY DETAILS

SUMMARY

Serving people through innovation

SERV was established in 2017 with the sole purpose to “serve people” by redefining experiences through digital innovation. SERV enters the automotive space by first looking into innovating the vehicle ownership experience, providing vehicle owners with a one-stop platform that allows them to truly own their vehicles, search for various services, make payments, and track their vehicle health report in the digital space. In the beginning, SERV started with an on-demand feature that provides door-to-door car maintenance service but soon introduced Drive-In during the pandemic, a new feature on the app that allows workshop merchants to get connected with customers via SERV app. Currently, SERV is actively operating in Malaysia while they’re expanding their presence in the US. SERV is also working on mobility-related technologies such as autonomous vehicles and green technology through it’s R&D arm within the SERV group of companies.

Highlights

• 110% revenue growth YoY 2020
• 1070% EBITDA growth YoY 2020
• RM2.6 mil generated income
• More than 300 aftermarket businesses nationwide
• More than 11k users with more than 9k vehicles

PROBLEM

We have now entered a new era of digital experience but the auto & mobility sector need to catch up

There have been a lot of breakthroughs in the world of digital technologies and have been innovating various sectors across the globe. We have seen this to be a movement that is also helping the auto & mobility sector but it is still considered to be underserved in terms of technology. We identified a few problem that still persists till this day in this modern day and age, focusing on 4 major pain points: 

• Few if not any technology provider is giving an emphasis on an end-to-end digital experience for vehicle ownership as a whole.
• The market is saturated with various different apps that address a single problem for your vehicle, forcing users to switch and retain multiple apps.
• Lack of transparency and information for vehicle owners to make better decisions to opt for a service and is often misled to perform an unnecessary one.
• Records, reminders and notifications on the status of your vehicle is a dime a dozen, which is essential to keep vehicle owners on top of their car service or maintenance.

SOLUTION

A Mission, A Simple Gesture

We believe in the ability for technology to simplify our lifestyle and make access to services or products much more convenient, with less margin for errors. We want to serve the best possible with the most simplest touch.

Own your vehicle digitally and access to services

With our mission in mind, there’s a lot to be done and could be done to start off with the simplest one, why isn’t my car stored digitally? So we went ahead and enabled a feature to own your vehicle digitally by saving your information and being in control of that as well. On top of that, we bring to you a variety of services or products that are essential for the care of your vehicle, all in one app.

Transparent services

We understand the hassle of having to decide on something especially when it comes to prices so we have a feature for that too. You need information and we have it in the app. Have better transparency with the prices and services that you will be paying before it’s been done. Clear, convenient and best of all, digital.

Track your records & be reminded

After you perform a simple car maintenance and fast forward a couple of months you might be wondering is it time to do another routine maintenance. If so, what had been done previously and what’s next in the list? To make tracking easier, the app has a built in, free for all historical records of your immediate previous maintenance and we’ll remind you when the next one.

Own, Service, Track

Well, there’s a lot more that we offer but to put it simply, what we offer can be summed with our slogan ‘ Own, Service, Track’, owning your vehicle digitally, access multiple services and track everything done.

Developing an end-to-end vehicle ownership experience

Although there’s a lot of service that can be done, here’s a couple of simple questions you could ask yourself to start servicing using your SERV App. If you want to service your car while you’re ‘On-The-Go’, which means you’re at work or at home, we can come to you by selecting services under our ‘ Service On-The-Go’ icon in the home tab. Or maybe you have your own trusted workshop that you prefer to drive to, try our ‘Drive-In’ feature and have your local mechanic help you out. Again, all through the SERV App.

PRODUCT

Modular, Convenient and Evolving Solutions for a better lifestyle and business

Our main product is the SERV Mobile App, that connects users with services but we have also introduced nationwide solutions for Businesses to get connected to users. If you are in retail or running a workshop, signup for a free to use Merchant Management System that helps you track everything that goes on in your day to day workshop operations. All your customer information and data is accessible online exclusively for you but you want to take your data game a step further, you could try our newly released Enterprise Solution called Business Mission Control, a data visualization platform for you to be better-equipped to make data-driven decisions.

TRACTION

Over MYR2.6M generated income and we are profitable

We’ve been operating lean for 3 years and we are happy that we are serving our users, improving their digital lifestyle, whether personally or digitally. This is reflected in our positive MoM growth in users, vehicles and merchants.

A healthy prospect is also in our way with a projected positive growth for YoY revenue and income.

CUSTOMERS

Built for a  better experience across ages

SERV appeals not only to those tech-savvy millennials, but also to those seniors who are looking to have a better vehicle management experience. We cater for a better customer-business interactions, bridging a convenient and simplistic user experience for customers with an intuitive and wholesome business-centric tools for merchants.

BUSINESS MODEL

Multiple revenue streams that have generated millions

Our business model can be categorized into two, catering for users or customers, and another for merchants or businesses. Each category has more than one revenue stream that we have identified and continually improve to maintain a steady income.

MARKET

The global market of vehicle ownership services will be worth $2T by 2023.

SERV is targeting the global vehicle ownership services market, which will be valued at $2T by 2023, and having Malaysia as a strategic starting point with 31.2M number of vehicles in the country as of 2020. With our strong team, strategy, and technology capability, we project that we can achieve $100M in revenue by Year 10. For context, Grab and Gojek are significantly bigger than that.

COMPETITION

While the concept is new, there are many potential players

SERV’s immediate threats are categorical, broken down into 3 main focus areas within the automotive sector alone . As our platform will evolve, more players in each focus area will become our nearest competitors. It’s difficult to cover everything. However, we have identified a way to maneuver through various challenges within this sector and it all starts with our advanced community building and scaling features with a head start in the aftermarket services. There are also other up and coming platforms, which could expand to include the whole experience of vehicle ownership. This is always an inevitability with technology which is why we are also venturing into cutting edge technologies through our R&D arm. We also offer our technology to the businesses near free, so we can corner the market and take oxygen from a large number of merchants that are in need of digital tools.

VISION

To be the leading digital technology platform

SERV intends to create a new platform for communities and merchants globally. Our platform will enable the adoption of digital solutions across various verticals faster with localization a priority.

INVESTORS

Raised ~MYR1M in pre-seed financing by notable investors.

SERV has been funded to date through conditional grants by Malaysian Government Agencies and SAFE notes by strategic individuals that are accomplished executive and founders in the fields of energy, and digital technology.  The investor group is an invaluable resource for advice and contacts as we scale our business.

TEAM

Meet our Founders & Management Team

We are a team of 26 individuals with diverse backgrounds of studies and experiences.

Arief Imran, GCEO

• More than 14 years experience in entrepreneurship.
• Owner of Star Gym
• Writing:
  • Redefining vehicle ownership experience

Haziq Faris, GCTO & CEO of REKA

• More than 10 years experience in technology and R&D
• Worked with Google
• Writing:
  • Rediscovering knowledge & arts
  • Why you should spend a little more time on strategy
  • Starting a cross-field R&D team

Amri Firdaus, GCSO & COO of REKA

• More than 13 years experience in technology and project management.
• Former CTO of Uzma Integrated Solution

Nor Safiq, COO

• More than 10 years experience in operation management.
• Former Data Centre Manager at T-Systems

Hafinizam Nor Azmi, Head of Finance

• More than 17 years experience in finance and management
• Former GM at Amanah Ikhtiar Malaysia

Irma Syazreena, Head of Comms & Marketing

• More than 6 years experience in communication and marketing.
• Former Associate Manager at ZEN Rooms

Press

• Interview session with RTM during the launching of SERV latest version -
• Featured on Digital News Asia: Smart partnership between SERV, JomParking, and Bateriku.com to bring convenience to Malaysia’s drivers
• Featured on Vulcan Post 
• Featured on Bernama Ekonomi in regards to the launching of its latest version in July 2019
• Bernama coverage - SERV aimed to be Southeast Asia’s automotive super app
• Bernama coverage - SERV aimed to be Southeast Asia’s automotive super app

DISCLAIMERS

• No shares will be allotted or issued based on this document after six months from the closing of the offer period.
• This issue, offer or invitation for the offering is a proposal not requiring authorisation of the Securities Commission under section 212(8) of the CMSA 2007.
• This document has not been reviewed by the Securities Commission Malaysia. The Securities Commission does not recommend nor assumes responsibility for any information including any statement, opinion or report disclosed in relation to this fund raising exercise and makes no representation as to its accuracy or completeness. The Securities Commission expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the information disclosed.