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UrbanClap raises USD 10 mn from existing investors
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.
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.
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.