Home services startup UrbanClap has introduced a one hundred fifty percent growth in its working sales for FY19 to Rs 116 crore from Rs forty-six crores in FY18. Releasing its unaudited FY19 economic consequences, UrbanClap claimed: “in large part flat” operating losses at Rs seventy-two crore from Rs fifty-seven crores in FY18.
Currently, around 20,000 carrier professionals are on board UrbanClap across numerous classes, even as the business enterprise is trying to decorate that number to over 1 million professionals in the next 5 years, said Abhiraj Singh Bhal, co-founder UrbanClap. The startup presently gives you services to 10 towns in India.
UrbanClap, based in 2014, said that its range of carrier orders additionally went up from around 1.2 million in FY18 to around three.3 million within the closing economic 12 months, recording a 3X bounce.
FY16 general order count became around one hundred,000 that grew to around 3.Five lakh in FY17 followed through 11 lakh in FY18 and 33 lakh (3.3 million) in FY19. So the growth within the number of carrier orders is the core of our business that is growing 3X 12 months-over-12 months,” UrbanClap co-founder Abhiraj Bhal told Financial Express Online.
The gross transaction fee (GTV) of FY19 carrier orders became around Rs four hundred crores, up from Rs a hundred thirty crore for orders in FY18 even as the company’s common order price is around Rs 1,200, stated Bhal. GTV is equal to e-commerce’s gross merchandise value metric for the increase. UrbanClap increased into new verticals ultimate yr consisting of cleansing, pest manipulates, and portray and additionally forayed in Dubai and few tier-II cities in India.
The startup’s destiny boom drivers could consist of the enlargement of present classes of splendor services, pores, skincare, grooming, equipment offerings, and primary domestic upkeep. Another place of enlargement would enlargement to tier-II towns and launching in Abu Dhabi this yr at the side of one extra global marketplace, said Bhal.
UrbanClap has raised $one hundred ten.7 million throughout seven rounds of funding thus far and counts Steadview Capital, Vy Capital, Saif Partners, Accel Partners, Bessemer Venture Partners, and so forth. Other than Ratan Tata as its traders. It ultimately raised $50 million from Steadview Capital in November ultimate 12 months, as in step with offers tracker Crunchbase.
In phrases of the acquisition, Bhal said the organization isn’t always actively envisaging buyouts in-home services space neither it’s miles looking to enhance new funding round. “Till date, we haven’t touched the collection C spherical of $21 million that happening in 2017. The startup competes with Bengaluru-based totally and Amazon-backed Housejoy that claims over a hundred services being supplied. It has over 65,000 professionals on its platform, as in line with its website. Houseboy is likewise sponsored via international price range and corporates, Qualcomm, Vertex Ventures, RTP Global, and Matrix Partners India, Sama Capital, etc.
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