India's largest home services startup UrbanClap raises $75 mn funding to expand its business
UrbanClap Technologies India Pvt Ltd, an on-demand home services marketplace, has raised $75 million in a Series E funding round led by US-based investment firm Tiger Global Management.
The round has also seen participation from existing investors Steadview Capital and Vy Capital. The Gurugram-based startup will use the fresh capital to expand its business.
Founded in 2014 by Abhiraj Singh Bhal, Varun Khaitan and Raghav Chandra, UrbanClap is an online marketplace for local services like repair and maintenance, packers and movers, event management, health and wellness, and salon.
Currently, the company is operating in 10 cities in India and two international markets, Dubai and Abu Dhabi. UrbanClap at present works with more than 20,000 service professionals. It offers these professionals with tools, training, uniforms, financing, insurance, bank accounts and products/consumables.
Last month, UrbanClap had raised Rs 1.5 crore from former Flipkart employee Mekin Maheshwari and Avaana Capital Founder Anjali Bansal.
The company had raised $50 million late last year in a Series D funding round led by Hong Kong-based hedge fund Steadview Capital and existing investor Vy Capital.