As competition intensifies in the quick-service space, Bengaluru-based Snabbit is broadening its offerings to include cooking, elder care, and child care after raising $30 million in a funding round led by Bertelsmann India Investments (BII), according to founder Aayush Agarwal.
Snabbit, which offers hyperlocal, on-demand home services, raised $19 million in a round led by Lightspeed Venture Partners in May and $5.5 million in a round led by Elevation Capital in January. The latest funding marked the company’s third fundraise this year.
“We have an ambitious plan to scale, which is why we need this extra capital to launch in new micro markets, cities and also enter new categories,” Agarwal told ET in an interaction. “Home cooking as a category is the most natural extension for us, and then we are going to launch child care and elderly care services.”
Snabbit competes with listed player Urban Company’s Insta Help, along with New Delhi-based Pronto. Neither of the rivals currently offers cooking, elder care, or childcare services.
“This is a hyperlocal business that requires a micro-market strategy. It is important to build depth in a micro market because the more depth you build in a micro market, the more profitable your model gets,” Agarwal added.
Founded in 2024 by Agarwal, a former chief of staff at quick commerce platform Zepto, Snabbit currently connects households with trained professionals for tasks such as general cleaning, dishwashing, and laundry. These professionals are available on demand and typically arrive within 10 minutes, with services billed by the hour.
Its services are available in Mumbai, Delhi, and Bengaluru. Recently, Noida and Pune have been added to the list. Currently, it clocks in 10,000 orders per day.
Agarwal said that the company will be launching an early salary withdrawal option for its professionals. “For those who have been with us for a decent amount of time, we will be launching a feature where a small portion of the salary can be withdrawn at any point in time.”
This will help the company track the professional’s behaviour on the platform and assess the person’s creditworthiness, enabling it to eventually offer loans in partnership with banks or non-banking finance companies (NBFCs), Agarwal added.
Earlier this month, ET reported that Snabbit has strengthened its senior leadership and shifted its corporate headquarters from Mumbai to Bengaluru. It has also strengthened its senior leadership by appointing Ishan Kansal as head of product and Ankit Srivastava as head of technology.
In August, Pronto raised $11 million in funding, co-led by General Catalyst and Glade Brook Capital, with participation from Bain Capital Ventures. Meanwhile, Urban Company made its market debut on September 17.
Snabbit, which offers hyperlocal, on-demand home services, raised $19 million in a round led by Lightspeed Venture Partners in May and $5.5 million in a round led by Elevation Capital in January. The latest funding marked the company’s third fundraise this year.
“We have an ambitious plan to scale, which is why we need this extra capital to launch in new micro markets, cities and also enter new categories,” Agarwal told ET in an interaction. “Home cooking as a category is the most natural extension for us, and then we are going to launch child care and elderly care services.”
Snabbit competes with listed player Urban Company’s Insta Help, along with New Delhi-based Pronto. Neither of the rivals currently offers cooking, elder care, or childcare services.
“This is a hyperlocal business that requires a micro-market strategy. It is important to build depth in a micro market because the more depth you build in a micro market, the more profitable your model gets,” Agarwal added.
Founded in 2024 by Agarwal, a former chief of staff at quick commerce platform Zepto, Snabbit currently connects households with trained professionals for tasks such as general cleaning, dishwashing, and laundry. These professionals are available on demand and typically arrive within 10 minutes, with services billed by the hour.
Its services are available in Mumbai, Delhi, and Bengaluru. Recently, Noida and Pune have been added to the list. Currently, it clocks in 10,000 orders per day.
Agarwal said that the company will be launching an early salary withdrawal option for its professionals. “For those who have been with us for a decent amount of time, we will be launching a feature where a small portion of the salary can be withdrawn at any point in time.”
This will help the company track the professional’s behaviour on the platform and assess the person’s creditworthiness, enabling it to eventually offer loans in partnership with banks or non-banking finance companies (NBFCs), Agarwal added.
Earlier this month, ET reported that Snabbit has strengthened its senior leadership and shifted its corporate headquarters from Mumbai to Bengaluru. It has also strengthened its senior leadership by appointing Ishan Kansal as head of product and Ankit Srivastava as head of technology.
In August, Pronto raised $11 million in funding, co-led by General Catalyst and Glade Brook Capital, with participation from Bain Capital Ventures. Meanwhile, Urban Company made its market debut on September 17.
