Summary of Snabbit’s Funding Announcement : Snabbit, an on-demand home services app, has raised $5.5 million in a Series A funding round led by Elevation Capital, with participation from Nexus Venture Partners and notable angel investors. This follows the $1 million seed funding the startup secured earlier in 2024.
Founded by Aayush Agarwal, a former Zepto executive, Snabbit offers quick-access home services such as cleaning, laundry, and dishwashing, with professionals available within 15 minutes. The app operates on a full-stack model, sourcing, training, and managing its workforce while providing workers with stable income and benefits like health insurance.
Currently active in select areas of Mumbai, Snabbit plans to use the new funds to expand its services across India and enhance its operational capabilities. The company has already acquired thousands of customers through word-of-mouth, tapping into the significant demand for high-frequency home services.
Investors praised Snabbit for its innovative, hyperlocal approach and its potential to transform the home services sector, benefiting both consumers and service providers. The startup is seen as a disruptor in an untapped market with immense growth potential.
Securing $5.5 Million for Growth
Snabbit, a home services app offering on-demand professional assistance, has secured $5.5 million in Series A funding. The round was led by Elevation Capital and included Nexus Venture Partners as well as angel investors Vidit Aatrey, Sanjeev Barnwal, Gaurav Munjal, and Niraj Singh. This follows the $1 million seed funding the company raised earlier in 2024.
Revolutionizing On-Demand Home Services
Founded in 2024 by Aayush Agarwal, Snabbit enables users to book home services like cleaning, laundry, and dishwashing with a 15-minute service window. The app’s full-stack model includes workforce sourcing, training, and management, ensuring high service quality and providing workers with steady income and benefits such as health insurance. Agarwal highlighted Snabbit’s role in empowering a fragmented segment of workers.
Strategic Growth Plans
Snabbit is currently operational in a few neighborhoods in Mumbai and aims to utilize the new capital to scale its operations across India. With thousands of customers already acquired through organic growth, the company sees vast potential in India’s high-frequency home services market. Agarwal described the sector as ripe for disruption and innovation, offering a promising opportunity for expansion.
Investor Confidence
Manish Advani, Vice President of Elevation Capital, applauded Snabbit for redefining convenience in the home services sector with its affordable, hyperlocal model. He expressed excitement about the company’s expansion plans and its ability to create everyday convenience for Indian households.
Suvir Sujan, Managing Director at Nexus Venture Partners, praised Snabbit’s focus on dense residential areas and its innovative, worker-friendly business model, positioning the startup as a leader in India’s home services landscape.
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