UrbanClap raises $21M in Series C funding round

Home services marketplace, UrbanClap has raised $21 million in a Series C funding round led by Dubai-based VC firm Vy Capital, with participation from existing investors SAIF Partners, Accel Partners and Bessemer Venture Partners.

Vy Capital also bought some shares held by Snapdeal Founders, who are UrbanClap's angel investors. The latest financing will be used to expand to new cities, invest in technology and add new vendors, said a Livemint report citing UrbanClap founder Abhiraj Bhal. “The new round of capital gives us the elbow room to invest in core areas of our business such as supply on-boarding at scale, training, building spares and parts inventory, etc. This will help us firmly cement our market leadership position,” Bhal added.

UrbanClap's latest capital infusion comes almost a year and a half after the startup grabbed $25 million in Series B round of funding led by Bessemer. This was followed by an investment from Ratan Tata in December 2015 and $3.1 million in debt investment from Trifecta Capital in May this year.

Launched in 2014, UrbanClap lets you hire professionals for in-house beauty services, house cleaning and repair, yoga and fitness, and similar services in eight cities. It claims to have more than 65,000 service professionals registered on the platform servicing 300,000 bookings each month.