Snabbit Secures $19M to Revolutionize India's Home Services

Snabbit Raises $19M to Modernize India's Home Services

India's home services sector, encompassing cleaning, dishwashing, and laundry, has long been fragmented and informal. This often leads to unreliable service for consumers and inconsistent pay for workers. Snabbit, an Indian startup, aims to change this with its on-demand platform.

Founded just 15 months ago, Snabbit offers quick home services like cleaning, dishwashing, laundry, and meal preparation through its app. Customers in Mumbai and Bengaluru can book services with delivery in as little as 10 minutes.

$19 Million Series B Funding Round

Snabbit recently secured $19 million in Series B funding, led by Lightspeed, with participation from existing investors Elevation Capital and Nexus Venture Partners. This brings the company's valuation to $80 million. The new funding will fuel Snabbit's expansion across India.

Founder and CEO Aayush Agarwal experienced the difficulty of finding reliable home services firsthand, inspiring him to create Snabbit. "In a world of on-demand everything, finding reliable help at home was surprisingly difficult," Agarwal said.

In a world of on-demand everything, finding reliable help at home was surprisingly difficult.

Snabbit's "Full-Stack" Approach

Snabbit takes a "full-stack" approach, handling worker sourcing, screening, training, and management. The company ensures workers, referred to as "experts," live near demand centers to facilitate quick service delivery. Snabbit also provides workers with benefits including life insurance, health insurance, and accident insurance.

While other companies like Urban Company, Broomees, and Pronto operate in the same space, Snabbit believes its focus on consistent customer experience and worker well-being sets it apart. The startup utilizes its own technology, including a CRM and eKYC process, to streamline operations and comply with regulations.

Growth and Expansion Plans

Snabbit has over 600 workers on its platform and has served over 25,000 customers. The average customer uses the platform at least three times a month. The company plans to expand to over 200 micro markets across major Indian cities in the next nine months. They also plan to grow their current workforce of nearly 100 employees.

While the on-demand market has seen its share of challenges, Snabbit is confident in its ability to retain customers and compete effectively. "We know the market is heating up," Agarwal said. "But as long as we keep executing, it's a good thing."

Rahul Taneja, a partner at Lightspeed, expressed enthusiasm for Snabbit's potential. "Snabbit is transforming home services in India by bringing speed, structure, and trust to a largely informal sector," Taneja said. "We're excited to support their mission to make on-demand home services a daily necessity."