Snabbit raises $56 million to expand on-demand home services in India

Snabbit, an Indian on-demand home services startup, has closed a $56 million Series D funding round—which represents a late-stage venture capital financing round. This newly secured capital brings the company’s total funding raised to about $112 million. According to a person familiar with the matter, this latest round values the Bengaluru-based startup at around $350 million, marking a substantial increase from its previous valuation of $180 million about six months ago. The financing round was co-led by Susquehanna Venture Capital, Mirae Asset Venture Investments’ Unicorn Growth Fund, and Bertelsmann India Investments. Existing investors Nexus Venture Partners and Lightspeed also participated in the round, alongside FJ Labs.

Founded in 2024, Snabbit is actively scaling its operations across five cities to meet the growing demand for rapid, on-demand home services in urban India. The startup offers household services such as cleaning, dishwashing, and laundry, which consumers request directly via digital platforms. As the company expands its geographic reach, it has established a significant operational footprint to manage its daily transactions and workforce. Snabbit’s current operational and financial metrics include:

• Daily jobs: Processing over 40,000 jobs daily across its active markets.
• Worker network: Operating with a network of more than 15,000 workers to deliver these services.
• Unit economics: The amount the startup loses on each individual order has fallen about 50%.
• Acquisition efficiency: Customer-acquisition costs—defined as the cost associated with convincing a consumer to use the service—have shrunk roughly 65%.

The capital injection comes as investor interest in India’s on-demand home services sector heats up. Snabbit’s expansion and funding occur alongside broader activity in the market, where rival startup Pronto is also in talks to raise fresh capital. At the same time, the scale of the opportunity is demonstrated by publicly traded competitor Urban Company, which is reporting more than 1 million monthly bookings. This collective momentum highlights a highly competitive landscape as platforms vie for market share in urban India, focusing heavily on unit economics and scale to capture a growing urban market.

Why it matters

Snabbit’s funding highlights the intensifying competition in India’s on-demand home services sector, where startups are increasingly focused on unit economics and scale to capture a growing urban market.