UrbanClap raises USD 10 mn from existing investors

Posted By: GizBot Bureau

    Mobile services marketplace UrbanClap today said it has raised USD 10 million in funding from the existing investors SAIF Partners and Accel Partners. The company -- which currently has services in Delhi-NCR, Bangalore and Mumbai -- will invest funds to scale its operations pan-India, strengthen technology and grow its employee base to over 500, it said in a statement.

    UrbanClap raises USD 10 mn from existing investors

    Earlier this year, UrbanClap had raised a seed round of about Rs 10 crore from SAIF Partners, Accel Partners and Kunal Bahl, Rohit Bansal – the founders of Snapdeal. Founded in October 2014, UrbanClap helps find professionals across areas such as plumbing, wedding photography, yoga teachers, electricians and interior designers.

    "In a short span of a few months since the launch, we have seen phenomenal traction from customers. We are currently serving 1,000+ customer requests each day. Additionally, we have a strong, engaged base of 5,000+ suppliers, connected to our merchant app.

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    With the new funding, we plan to grow 10 times on every metric in the quarter," UrbanClap co-founder Abhiraj Singh Bhal said. SAIF Partners Mukul Singhal said local services is a very big market and pain point for the India consumer.

    "The market is ripe for disruption, both from a discovery and consumption of services perspective. And, we think that UrbanClap team has done a phenomenal job in executing so far," Singhal said.

    "We believe that their smartphone-based approach, high quality team and sharp focus on customer experience will differentiate them," Accel India Abhinav Chaturvedi said.

    Source: PTI

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