SAIF, Accel commit $10m to Indian services marketplace

Set up in October last year, the Gurgaon-based start-up uses its mobile platform to offer over 50 services across five main categories: home, health, events, lessons, and personal services. Currently the business claims that it serves 1,500 customer requests each day - across Bangalore, Dehli, and Mumbai - and has a base of 5,000 providers.

Across the five categories the mobile app offers two types of service: standardized "blue-collar" jobs like home cleaning or repairs, where users can book and pay via the app; and "white collar" services, such a photography, and yoga instruction, where UrbanClap can serve as a matchmaking platform for customers and service providers.

The investment comes two months after Accel and SAIF injected $1.6 million into the company in a seed round alongside Snapdeal co-founders Rohit Bansal and Kunal Bahl. The start-up plans to use this latest investment to scale up its operations nationwide, improve its technology platform, and grow its headcount from 100 to more than 500 staff.

UrbanClap is one of a number of VC-players currently active in India's services marketplace space. In April, a similar service called LocalOye raised a $5 million Series A round of funding from Tiger Global Management and Lightspeed Venture Partners. The same month Mumbai-based TaskBob secured $1.2 million in seed funding from Orios Venture Partners and Mayfield India.

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• Topics
• Early-stage
• Technology
• South Asia
• India
• SAIF Partners
• Accel Partners
• Venture
• Technology