UrbanClap Raises Rs10 Cr in Seed Funding from SAIF Partners and Others

The Founders -(from left) Abhiraj Bhal, Varun Khaitan and Raghav Chandra

The Founders -(from left) Abhiraj Bhal, Varun Khaitan and Raghav Chandra

Online marketplace for day to day services, UrbanClap has raised Rs. 10 crores in funding from SAIF Partners, Accel Partners and the founders of Snapdeal, Kunal Bahl and Rohit Bansal. The company which currently operates in the Delhi-NCR region plans to utilize the funds in strengthening its technology and team as well as to scale the platform to more service categories across cities.

Founded in October 2014 by Varun Khaitan, Abhiraj Bhal and Raghav Chandra, UrbanClap is a platform which provides service professionals to the customers. To access these services, the user must enter his/her needs on the company’s website or its Android app, and the platform will bring the right professionals to them.

Commenting on the fundraise, Raghav Chandra, the Co-Founder said, “We have a deep understanding of the local services problem on both the customer and professional side… with the backing of our investors, we plan to scale the platform across hundreds of services and multiple cities”

Further, Subrata Mitra, Partner, Accel India, said, “Being early investors in product ecommerce 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.”

A few other players in this arena, which are working on a similar model are, TaskBob, LocalOye and Qyk