UrbanClap, India's largest home services startup, raises $50M
30 Nov 2018 12:50 PM IST
UrbanClap, a four-year-old startup that offers home services across in India, has closed a $50 million Series D round for expansion. The round was led by�Steadview Capital, a hedge fund with over $1 billion under management, and existing investor Vy Capital. It takes UrbanClap to $110 million raised to date, according to data from Crunchbase. [?]
- UrbanClap, a four-year-old startup that offers home services across in India, has closed a $50 million Series D round for expansion.
- UrbanClap matches service people, such as cleaners, repair staff or beauticians, with customers across 10 cities in India via its platform.
- For example, he said, the typical salary for an offline service worker might be in the region of 10-15,000 INR (up to $215) while, for those operating independently, their flow of work would be tied to a middleman, store or word of mouth networks.
- The company is instead going after tier-two cities in India and working to deepen its position in its existing locations.
- Rival Housejoy, which includes Amazon among its shareholders, went through some fairly well-publicized issues this year resulting in layoffs and, according to reports, efforts to sell the business.
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