Business

UrbanClap raises $10 million in series-A funding

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Mobile services marketplace, UrbanClap, has raised $10 million in funding from its existing investors SAIF Partners and Accel Partners. The new round is the second round of funding by the comapny.

Earlier, this year it had raised around $1.6 million in seed round from SAIF Partners, Accel Partners and Snapdeal founders-Kunal Bahl and Rohit Bansal.

The company, which is presently serving Delhi-NCR, Bengaluru and Mumbai, plans to invest the fresh funds for scaling its operation across the country. It also plans to strengthen technology and also grow the strength of the team to 500 from current 100 members.

The company, which started its operation in October last year, was founded by IIT alumni Abhiraj Bhal, Varun Khaitan and former Twitter engineer Raghav Chandra.

Commenting on the round, Abhiraj Singh Bhal, the co-founder said, “The problem we are solving, hiring of a trusted local service professional, is extremely broken. The world over, companies have attempted to solve with problems, with limited success. We are committed to solving this problem deeply, and end-to-end, no matter how long it takes”

The company which has around 5,000 suppliers serves around more than 1,500 customer requests each day.

According to UrbanClap, which offers about 50 services on its platform, it conducts third-party and police verification of all the listed merchants and professionals. It said it has seen more than 6,000 seller registrations and 60,000 customer app downloads within a span of two months.

According to the company, it offers about 50 services on its platform across five major categories like home, health, events, lessons and other personal services.

“All professionals on UrbanClap are put through stringent background check and police verification for all its professionals to ensure that the customers only get the best,” the company said.

Abhinav Chaturvedi, of Accel India, said, “Local services is a globally unsolved problem. The UrbanClap team just does not want to settle for sub-optimal, and constantly keeps trying new things to perfect their model. We believe that their smartphone based approach, high quality team and sharp focus on customer experience will differentiate them.”

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Printable version | Sep 20, 2017 8:26:12 PM | http://www.thehindu.com/business/urbanclap-raises-10-million-in-seriesa-funding/article7366848.ece