Hustler Words – India’s burgeoning appetite for instant solutions, once limited to food and groceries, now extends to household help, propelling Snabbit, an on-demand home services startup, to new heights. The company has secured $30 million in Series C funding, doubling its valuation to a staggering $180 million in just five months, from a previous $80 million.
This latest funding round, Snabbit’s third in nine months, was spearheaded by Bertelsmann India Investments, with continued support from existing investors Lightspeed, Elevation Capital, and Nexus Venture Partners. This injection of capital brings Snabbit’s total funding to $55 million, fueling its expansion plans and solidifying its position in the competitive on-demand services market.
Snabbit’s rapid growth is attributed to a surge in demand, with daily bookings escalating from approximately 1,000 in May to over 10,000. By October, the startup had surpassed 300,000 total orders, as revealed by founder and CEO Aayush Agarwal in an interview with hustlerwords.com.
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Established in 2024, Snabbit provides a suite of on-demand home services, including cleaning, dishwashing, laundry, and kitchen assistance, facilitated by a 100% women-led team of 5,000 trained professionals. Operating through a hyperlocal network, Snabbit strategically stations its workforce within densely populated residential areas, promising service delivery within a remarkable 10-minute timeframe.
Currently, Snabbit operates in 40 micro-markets across Mumbai, Bengaluru, Gurugram, Noida, and Pune. Agarwal shared with hustlerwords.com plans to deepen its presence in these cities and expand into Hyderabad, Chennai, Delhi, and Calcutta in the near future.
The startup has already served over 300,000 customers, a significant leap from 25,000 in May, and anticipates adding another 100,000 in the coming month. Its primary user base comprises individuals aged 30 to 40, including bachelors and working professionals seeking convenient home assistance.
Agarwal emphasizes Snabbit’s unique approach, focusing on optimizing existing inefficiencies rather than simply digitizing offline services. This strategy has resulted in a 30-35% customer retention rate, with projections to reach $11 million in annual recurring revenue this month. The customer acquisition cost remains "well below" ₹500 (approximately $6), according to Agarwal.
Snabbit’s services are competitively priced at around ₹150 (about $2) per hour, with an average transaction value of approximately ₹240 (roughly $3). Workers on the platform earn between ₹25,000–₹30,000 (approximately $284–$340) per month, depending on their working hours. The company has also optimized worker efficiency by reducing the average walking distance between jobs from 300 meters to 250 meters.
While Urban Company has been a pioneer in the on-demand home services sector, Snabbit asserts its competitive edge lies in its hyperlocal strategy, focusing on dominating specific micro-markets rather than pursuing broad geographic coverage.
The new funding will enable Snabbit to strengthen its market position and expand into high-frequency service categories such as cooking, childcare, and eldercare.
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