UrbanClap raises $75 million in funding round led by Tiger Global

August 2, 2019, 14:41 IST/1 min read

The company, which is looking to expand operations, has raised about $110 million in total from investors such as Accel Partners, Steadview Capital, and Bessemer Venture Partners before this round.

UrbanClap raises $75 million in funding round led by Tiger Global

UrbanClap co-founders Abhiraj Bhal, Raghav Chandra, and Varun Khaitan (L-R). Credits: Narendra Bisht

Home services marketplace UrbanClap, which is planning to expand its operations, said it raised $75 million in a series E funding round led by New York-based investment firm Tiger Global.

Existing investors Steadview Capital and Vy Capital also participated in the round. The transaction comprised a primary round which involved share subscription by the investors, and a secondary share sale by some early institutional investors, the company said in a statement.

The company had raised more than ₹700 crore (about $110 million) from investors such as Accel Partners, SAIF Partners, Steadview Capital, and Bessemer Venture Partners before this round.

The Gurugram-based company, which connects people with service professionals like plumbers, electricians and beauticians, was started in 2014 by Abhiraj Bhal, Varun Khaitan, and Raghav Chandra. The company said it has since added 20,000 exclusive service professionals to the platform across 10 cities in India, Dubai and Abu Dhabi.

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In an interview with Fortune India, the company had said it wants to expand its base to 10 more cities in India in this financial year. UrbanClap is also in the process of identifying one more international market outside of West Asia.

Find a detailed story on UrbanClap in our June 15-Sept. 14 special issue.