Home services startup Snabbit secures $56 million in fresh funding round
Snabbit, an Indian home services startup, has secured $56 million in a fresh funding round, bringing its total capital to $112 million. The company plans to use the funds to expand into new cities, increase service density, and diversify its service categories.
Snabbit, a major player in India's on-demand home services market, has raised $56 million in funding. The investment round was led by Susquehanna Venture Capital, Mirae Asset Venture Investments, and Bertelsmann India Investments, among others. Snabbit's total valuation has more than doubled since its previous funding round, although the company declined to disclose specific valuation figures. The platform provides various household services, including dishwashing and kitchen cleaning, with rates starting at 169 rupees ($1.79) per hour. Snabbit reported surpassing 1 million monthly service jobs in March and plans to use the funds to accelerate its growth, expand into new cities, and strengthen its balance sheet. The Indian home services industry remains highly competitive, with a combined monthly average user base exceeding 10 million across the sector.
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