Snabbit in talks to raise $100-120 million amid home services boom
On-demand home services provider Snabbit is in talks to raise $100 million to $120 million from new and existing investors, possibly at a valuation of $500 million to $550 million, three people with knowledge of the development said.
“The company is in talks to raise a new round of financing. Investors think this is a new consumer category that is likely to see phenomenal growth over the next few years,” one person said.
The company, which raised funds just a month and a half ago, declined to comment on the development.
Founded by the former Launched in 2024 with Zepto executive Aayush Agarwal, Snabbit connects urban households to trained and verified home help services for tasks like dishwashing, laundry, bathroom and kitchen cleaning, on-demand, typically in about 10 minutes, and offers the option to schedule slots and group tasks in a single hourly booking.
With this, Snabbit will enter its fifth funding round since its founding. Snabbit raised $30 million in Series C financing led by Bertelsmann India Investments in October at a valuation of around $180 million, according to Tracxn. The company has raised a total of $56 million in funding so far and its investors include Lightspeed, Elevation Capital and Nexus Venture Partners.
Growth in the quick services market has increased sharply in the last few months with early adoption of these services in the tier 1 market. Company approx. ₹Agarwal said monthly gross income is $8 billion or annual income is about $12 million, driven by demand for domestic help. Mint in an interview in October. The company plans to move into sectors such as home cooking, child care and elderly care in the coming months.
rivalry
Funded companies in home services include Urban Company, Pronto and Broomies.
Urban Company came out with a ₹1,900 crore initial public offering ₹1,900 crore initial public offering in September. Pronto has raised about $2 million from Bain Capital Ventures, while Broomies has raised about $1.1 million from angel investors including Social Alpha, 100X.VC, and Peyush Bansal.
Before 2019, startups like Housejoy, LocalOye, Helpr, and Zimmber tried to build scale in home services, but few made the leap to larger companies.
The Indian home services market is a fast-growing segment with a total addressable market of around $60 billion in FY25, according to Redseer’s report in September. This figure is expected to reach approximately $100 billion by FY30, driven by urbanization and increasingly busy lifestyles.
Of this, the online segment remains relatively small at approximately $475 million but is growing rapidly. Redseer added that it is forecast to grow at a compound annual growth rate (CAGR) of 18-22% by FY 2030 as consumers increasingly seek convenience.
