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UrbanClap Raises $10 Million in Funding, Plans to Scale Operations

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UrbanClap Raises $10 Million in Funding, Plans to Scale Operations

Mobile services marketplace UrbanClap today said it has raised $10 million (roughly Rs. 63 crores) in funding from the existing investors SAIF Partners and Accel Partners.

The company - which currently has services in Delhi-NCR, Bangalore and Mumbai - will invest funds to scale its operations pan-India, strengthen technology and grow its employee base to over 500, it said in a statement.

Earlier this year, UrbanClap had raised a seed round of about Rs. 10 crores from SAIF Partners, Accel Partners and Kunal Bahl, Rohit Bansal - the founders of Snapdeal.

Founded in October 2014, UrbanClap helps find professionals across areas such as plumbing, wedding photography, yoga teachers, electricians, and interior designers.

"In a short span of a few months since the launch, we have seen phenomenal traction from customers. We are currently serving 1,000+ customer requests each day. Additionally, we have a strong, engaged base of 5,000+ suppliers, connected to our merchant app. With the new funding, we plan to grow 10 times on every metric in the quarter," UrbanClap co-founder Abhiraj Singh Bhal said.

SAIF Partners Mukul Singhal said local services is a very big market and pain point for the India consumer. "The market is ripe for disruption, both from a discovery and consumption of services perspective. And, we think that UrbanClap team has done a phenomenal job in executing so far," Singhal said.

"We believe that their smartphone-based approach, high quality team and sharp focus on customer experience will differentiate them," Accel India Abhinav Chaturvedi said.


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