UrbanClap revenue enhances by 150% to INR 116 Crore in FY2019.
UrbanClap has completed 3.3 Million service orders in FY19.
UrbanClap has till now raised $110.7 Million funding in seven rounds.
Gurugram based Home services marketplace, UrbanClap operating revenue enhances by 150% to INR 116 Crore in FY2019 from the previous financial year. In the previous financial year, 2018 UrbanClap also experienced a hike in revenue by 250% from FY17. Moreover, the operating loss of the firm has also enhanced by 26% to touch INR 72 Crore. In FY18 company experienced a loss of INR 57 Crore which was 14% less to FY17.
Abhiraj Bhal, co-founder of UrbanClap said, our aim is to empower millions of professionals to deliver services at home like never experienced before. In the last financial year, we took great steps to fulfill that mission, improving our capabilities in the selection, on boarding, training, and certification of service professionals. Additionally, we also invested in areas like technology, product procurement, financing and establishing our market leadership.”
UrbanClap has elaborated its capabilities to fulfill three times the service orders as compared to last year, totaling to 3.3 Million service orders in FY19. The total transaction value of orders stood at about INR 400Crore, as compared to INR 130Crore in FY18. In April 2019 Company has fulfilled 620k orders that resulted in the company’s annual run rate of 7.4 Million service orders for FY19. Further, UrbanClap’s annual gross transaction value of orders stood at around INR 1,000 Crore, while its annual revenue run rate was pegged at about INR 200 Crore. UrbanClap came into action in 2014 by Raghav Chandra, Abhiraj Bhal and Varun Khaitan. It offers several services including appliance repair, cleaning, painting, carpentry, beauty and massage, and plumbing.
The company claims that its operating model focuses on service professionals with the aim of turning them into micro-entrepreneurs, multiplying their earnings by 2-3 times. The company has till now raised $110.7 Million funding in seven rounds led by major VC firms like Bessemer Venture Partners, SAIF Partners, and Accel Partners. The company has also raised funds from successful entrepreneurs and investors including Rohit Bansal, Ratan Tata, and Kunal Bhal.
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