UrbanClap got a generous Series D round for expansion.
UrbanClap is an Indian startup providing home services across India. Its just been four years for the company that recently raised a $50 million Series D round for expansion. This has taken UrbanClap to $110 million raised to date. Steadview Capital led the round which was also funded by existing investor Vy Capital.
Services that Urbanclap offers
Urban clap offers services such as providing electricians, plumbers, painters, cleaners, house keepers and others such helpers. It is somewhat a difficult task to find people to do small work like carrying out repairs at home. Changing a tube light, or installing a product. UrbanClap provides authentic skilled people through its startup.
Every individual is provided with basic training to know and better his skills. Every worker has to undergo a skill test before being certified. A thorough search of his background and criminal records is verified. An “in person” is a must before finalising the workmen.
UrbanClap has started its services in Dubai
UrbanClap started its services in Dubai this year. Its a place where Indians and South Asians can be found in abundance. So expanding in that region might be a good move. Is it their trial place before going global? No says Co-founder and CEO Abhiraj Bhal.
“In many ways, we think about the Dubai move as an extension of India [Dubai has a strong presence of Indian and South Asia nationals] rather than an international expansion — a little like a U.S. company going into Canada,” Bhal explained. “We believe we have enough headroom to grow in India and Dubai; these are fairly unpenetrated markets.”
UrbanClap wants to go Public
CEO Bhal intends to take the company public but is not sure when that might happen. It all depend how they scale up and earn profits. Currently the company isn’t profitable, but revenues are increasing at a good pace. Going Public still needs a few years if they go at this rate.