UrbanClap, a home services platform, based out of Gurugram, has raised $75 million (approx ₹519 crores) in its Series E round led by Tiger Global. While, Vy Capital also participated in the round, Steadview Capital had led the startup’s D round.
The infused capital will be used to expand the company’s business.
UrbanClap stated that the financing round was split into two parts; a primary round which resulted in a share subscription by the aforementioned investors and a secondary share sale by some of its early backers.
Abhiraj Bhal, co-founder and CEO at UrbanClap said that the startup supports 20,000 micro-franchisees with around 450,000 transactions taking place each month.
UrbanClap was founded by Abhiraj Bhal, Raghav Chandra, and Varun Khaitan in 2014. The hyperlocal home service startup provides a wide range of services like plumbers, electricians, carpenters, cleaners, and pest control, among many others.
The startup has expanded its presence across eight Indian cities including Ahmedabad, Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai, and Pune. It has also gone international.
While, till date, the startup has raised about $185 million.
Bhal further said that UrbanClap helps offline service workers in India, who have traditionally relied on getting work through middleman such as some store or word of mouth networks, to find more work. And they earn more, too.
UrbanClap offers a more direct model, with workers keeping 80% of the cost of their jobs, he added.
On its website, UrbanClap claims to offer 73 services including kitchen cleaning, hairdressing, and yoga training. It says it has served 3 million customers.