03 July 2017, India:
Delhi-based online local services UrbanClap has raised $21 million in a Series C funding led by Dubai-based Vy Capital. Existing investors SAIF Partners, Accel Partners and Series B investor Bessemer Venture Partners also participated in the round as per the report by The Mint.
UrbanClap founder Abhiraj Bhal said, “The new round of capital gives us the elbow room to invest in core areas of our business such as supply onboarding at scale, training, building spares and parts inventory, etc. This will help us firmly cement our market leadership position.”
Founded in October 2014 by Bhal, Varun Khaitan and Raghav Chandra, UrbanClap enables users to find and hire verified service providers like plumbers, beauticians, yoga trainers and wedding photographers. It has more than 65,000 service professionals registered on the platform servicing 300,000 bookings each month. The startup has operations in eight cities, including Delhi-NCR, Bangalore, Mumbai, Chennai, Pune, Hyderabad, Kolkata and Ahmedabad.
The latest funding round gives UrbanClap enough resources to extend its lead as per the report by The Mint. Its closest rival, Zimmber, was acquired by classifieds firm Quikr in May. (Source and Image- The Mint)