Info-tech

Tiger Global leads $75-mn Series E funding round in UrbanClap

Our Bureau Bengaluru | Updated on August 02, 2019

Tiger Global has led a Series E funding round totalling $75 million in the managed marketplace for home services, UrbanClap. Existing investors, Steadview Capital and Vy Capital, also participated in the round.

This transaction was split into two parts – a primary round, which resulted in a share subscription by the above named investors, and a secondary share sale by some early institutional investors.

The Gurugram-based start-up has raised a total of $185.9 million to date. Former Flipkart executive Mekin Maheshwari, Flipkart CEO Kalyan Krishnamurthy and Ratan Tata have also invested in the start-up.

Founded in November 2014 by Abhiraj Singh Bhal, Raghav Chandra and Varun Khaitan, UrbanClap operates in India and the UAE. Consumers can order services such as beauty and spa at home, deep cleaning services, appliance repairs, plumbing, carpentry, home painting and more through its mobile app and website. Within India its services are available in Ahmedabad, Bengaluru, Chandigarh, Chennai, Delhi NCR, Hyderabad, Jaipur, Kolkata, Mumbai and Pune. Its services are also available in two international markets - Dubai and Abu Dhabi.

At the back end, UrbanClap partners closely with over 20,000 hand-picked individual service professionals and transforms them into micro-entrepreneurs. They do this by helping these professionals with market access, credit, insurance, tools, training, uniforms, financing, insurance, bank accounts, products/ consumables, driving either most or all of their business while standardising the end-user experience, pricing and deliverables under the UrbanClap brand name. This full-stack approach helps the company control the end-user experience.

Published on August 02, 2019

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