Snabbit Secures $56M Series D, Doubles Valuation Amid Market Competition

Aayush Agarwal, Snabbit Founder & CEO

The heat is on in the home services market and startups in the space have been building war chests to fund their efforts to get ahead in the high-cash-burn segment. On Tuesday, instant house help platform Snabbit said it has raised $56 million (around Rs 529 crore) in a round co-led by Susquehanna Venture Capital, Unicorn Growth Fund and Bertelsmann India Investments.

Rival Pronto had its own fundraise last month while Urban Company went public last year.

Snabbit's latest round valued the Bengaluru-based startup at $350 million, almost double its $180 million valuation just six months ago. It also saw existing backers Nexus Venture Partners and Lightspeed, as well as US-based FJ Labs Inc, a new investor, participate.

Unicorn Growth Fund, which joined the ranks of Snabbit’s investors, is a newly launched Rs 6,000-crore investment vehicle backed by South Korean companies Krafton, Naver Corp and Mirae Asset Venture.

Snabbit’s latest round comes six months after its $31.7 million raise in October 2025. Till date, it has raised $112 million.

Speaking to ET, Snabbit founder and CEO Aayush Agarwal said that with this capital raise, the startup is “well-capitalised” for the next few years, allowing it to focus on long-term goals while expanding into new micro markets and cities, in addition to entering new home-services categories.

India’s home services market is expected to grow at a compound annual growth rate of 18-22% to around Rs 8,500-8,800 crore by fiscal year 2030, as per consulting firm RedSeer.

Snabbit rival Pronto, which raised $25 million in March at a $100-million valuation, is in talks to raise another $15-20 million at a $200 million valuation, ET reported last week.

Urban Company, the biggest name in this space, went public last year. But its post-listing stock price has been under pressure as a result of rising competition in the instant help industry.

Agarwal said that Snabbit's focus remains largely on on-demand home services, with new categories such as home cooks also getting a bit of attention. “After home services, we are piloting home cooks and will scale in Bengaluru over the next three months,” he added.

Snabbit is currently operational in Delhi NCR, Mumbai, Bengaluru, Hyderabad, and Pune. It offers services such as cleaning, dishwashing and laundry.

Labour Crunch

Snabbit’s latest funding round comes at a time when the gig economy across the country is witnessing a shortage of labour, with the onset of summer and the harvest season in agrarian states, in addition to legislative assembly elections in states such as West Bengal, Tamil Nadu and Kerala.

Across major cities such as Delhi-NCR, Mumbai and Bengaluru, instant house help apps have reported unavailability of 10-minute booking slots, only assigning next-day or later slots.

Source: The Economic Times