Bengaluru, Apr 28, (APAC Media): Snabbit has raised $56 mn Series D in its fourth round of funding in the last 15 months. Susquehanna Venture Capital, Mirae Asset Venture Investments’ Unicorn Growth Fund, Bertelsmann India Investments, Nexus Venture Partners and Lightspeed participated in this round.
This new funding will be deployed to expand into new cities while deepening density and leadership in existing markets.
It will allow Snabbit to scale additional high-frequency service categories with proven product-market fit. Last but not the least, this allows Snabbit to strengthen the balance sheet to ensure long-term runway and disciplined capital allocation.
The total capital raised by Snabbit has reached $112 mn, with Series C funding happening 6 months back. Snabbit is already delivering 40,000+ jobs daily across 5 cities and 140 micro-markryd through a network of 15,000 experts.
Snabbit targets expansion to grow this lead, driving 2-3x higher jobs per micro-market and per user versus category averages. The company has embedded worker safety into its operating design through Snabbit Kavach.
This Kavaxh includrd platform-led safeguards such as real-time tracking, emergency support and accountability mechanisms that allow experts to work with confidence.
“This capital let’s us build India’s largest home services marketplace, with the ability to anchor a much larger consumer platform over time,” comments Aayush Agarwal, Founder & CEO, Snabbit.
