UrbanClap Raises 25 Mn Dollars INR 165 Cr in a Series B
Gurgaon-based mobile services marketplace, UrbanClap, has raised $25 Mn (about INR 165 Cr.) in a Series B round of funding led by Bessemer Venture Partners and existing investors Accel and SAIF Partners. Earlier in June this year, the company had raised $12 Mn across two rounds from Saif and Accel Partners.
The startup is looking to further strengthen its position in the space and will thus utilise the funds mainly on expansion across all major cities in the country and increase its team size from current 300 to about 600. Currently, it is operational in Delhi NCR, Bangalore, Mumbai, Chennai and Pune, and is looking to extend to 25 other cities and 100+ categories in next one year.
UrbanClap was founded by Varun Khaitan, Raghav Chandra and Abhiraj Bhal in October 2014. The startup provides a marketplace for two simple models, standardised blue collared services like electricians or home cleaning, and white collared services like photographers, interior designers, yoga instructors etc. To use the services, customers can directly book and pay on the app itself.