Startup City Magazine

Mobile Services Marketplace UrbanClap Raises Rs.10 Crores in Seed Funding

Bangalore: India’s largest mobile services marketplace startup UrbanClap raises Rs.10 crores in seed funding from SAIF Partners and Accel Partners along with the Snapdeal founders Kunal Bahl and Rohit Bansal. The firm will utilize the fund to build out the m-Commerce for services and to strengthen its technology and team by upgrading the platform across hundreds of services in multiple cities.

Incorporated in 2014 by Varun Khaitan, Abhiraj Bhal and Raghav Chandra, UrbanClap is the simplest way to find and hire trusted services. Since inception, the company aims to connect the customers to the best professional who can exactly do what customers want. Today, with the help of Android app or, the company serves any service professional to help each customer.
Commenting on the funding, Raghav Chandra, Co-Founder, UrbanClap says, “We have a deep understanding of the local services problem on both the customer and professional side. Our smartphone based matchmaking solution is very elegant and helps you find the right professionals with no effort at all. The platform is already making thousands of successful connections every week and with the backing of our investors.”

Subrata Mitra, Partner, Accel India says, “Being early investors in product e-Commerce in India, we believe in the power of a marketplace for services. Meeting the UrbanClap team, we realized how the problem of local services is elegantly solved with smartphone based reverse auction/booking solution as opposed to a classifieds list. The team has a deep understanding of the problems of the providers and customers and it reflects in their product. The level of engagement of providers is very high, which is a key ingredient to the success of any marketplace”.

Mukul Singhal, SAIF Partners says, “We see immense potential in a mobile based marketplace to help consumers find and hire any service. A product like UrbanClap works beautifully - consumers just need to enter their requirements and the technology does the work to bring interested professionals to them. We have seen the UrbanClap team since their early days; they have deep passion for the problem and building a large business out of it. We are very happy to back them as they grow the platform to more services and cities”.


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