Snabbit says valuation doubled in six months after a new funding round
Snabbit, a quick home services platform, has raised $56 million in a Series D round, doubling its valuation to nearly $360 million in six months. The funding will be used to expand into new cities and add more services.
Snabbit, a Mumbai-based quick home services platform, has raised $56 million in a Series D funding round led by Susquehanna Venture Capital, Mirae Asset Venture Investments' Unicorn Growth Fund, and Bertelsmann India Investments. The latest funding brings Snabbit's total capital raised to $112 million. The startup's valuation has doubled in the last six months to nearly $360 million. Snabbit's app receives 1,500 orders daily in top micromarkets, with a 50% decline in cash burn per order over the past six months. The company has scaled from fewer than 400 to over 40,000 daily jobs in the last year across five cities. The fresh capital will be used to expand into new cities, deepen density in existing markets, and add more services.
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