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UrbanClap FY19 revenue up 150% to Rs 116 Cr

UrbanClap Technologies, which owns and operates the eponymous domestic offerings market, has stated a sturdy pinnacle-line boom for the economic 12 months ended March 31, pushed using a bounce in carrier orders and access into new verticals.

The Gurgaon-situated organization mentioned an unaudited operating revenue of Rs 116 crore, up to one hundred fifty% compared to 2018. Operating loss in FY 2019 widened with the aid of 26% to Rs seventy-two crores, compared to Rs 57 crore in the preceding monetary.

The enterprise also stated it had served 620,000 service orders in April, putting it on an annualized run charge of seven. Four million service orders for the contemporary monetary. The four-12 months-vintage agency stated the orders represented an annualized gross transaction cost of about Rs 1,000 crore and an annualized revenue run-price of about Rs 2 hundred crores.

Overall, in the financial year 2019, UrbanClap stated it had served about 3. Three million service orders, a nearly three-fold bounce in comparison to the previous economy, with gross transaction value coming in at approximately Rs 400 crore, in contrast to Rs one hundred thirty crores in economic 2018.

UrbanClap counts the likes of stage and sector-agnostic funding company SAIF Partners, hedge fund Steadview Capital, and Vy Capital, amongst others as buyers.

UrbanClap, founded by Abhiraj Singh Bhal, Varun Khaitan and Raghav Chandra in 2014, claims to have over 20,000 experts on its platform. Its provider segments are spread across beauty and spa, plumbing, carpentry, appliance repairs, and domestic cleaning.

“Our imaginative and prescient is to empower tens of millions of specialists to deliver services at domestic like never experienced before. In the closing economic yr, we took amazing strides closer to that task, enhancing our choice, onboarding, training, and certification of provider experts. Additionally, we invested in areas like product procurement, era, and financing, establishing our marketplace management,” Bhal stated.

The agency, present in 10 cities across the u. S . additionally entered the United Arab Emirates, its first global vacation spot, last monetary 12 months.

It has emerged as one of the excellent-funded startups in the user’s startup environment, having raised $50 million in fairness financing in November’s final 12 months, at a $450-$500 million valuation. To date, the corporation has raised a color over $a hundred and ten million, in keeping with Crunchbase.

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Duane Simpson

Internet fan. Zombie aficionado. Infuriatingly humble problem solver. Alcohol enthusiast. Spent several months exporting UFOs in Jacksonville, FL. A real dynamo when it comes to exporting gravy in Tampa, FL. Spent 2001-2004 implementing saliva in Edison, NJ. Had moderate success getting my feet wet with junk food on Wall Street. Practiced in the art of building Virgin Mary figurines in Tampa, FL. Practiced in the art of marketing Roombas in Phoenix, AZ.

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