Latest news with #homeServices
Zawya
3 days ago
- Business
- Zawya
From start-up to standout: Why investing in techpreneurs is investing in the future?
In May 2025, GoodApp, a South African-born home services platform, was named Start-Up of the Year at the prestigious Intelligent ICT Awards, an honour that not only recognises technical achievement but also affirms the growing momentum behind purpose-driven African innovation. Founded with a bold vision to reimagine how communities' access essential services, GoodApp is quickly becoming a case study in what's possible when local talent meets global ambition. More than just a service marketplace, it is a digital infrastructure layer that connects customers with vetted professionals ranging from electricians and plumbers to beauticians, handymen, massage therapists, and more, all at the tap of a button. At the helm of the company's technological evolution is Prakhar Srivastava, Chief Executive Officer, whose product leadership has enabled the platform to scale rapidly across South Africa's urban hubs. 'We believe technology should be transformational, not just functional,' says Srivastava. 'GoodApp was created to remove friction from everyday life and unlock opportunity for both users and service providers.' The team's journey from a bootstrapped concept to an award-winning platform underscores the broader need for more investment in African tech ecosystems. While recognition is valuable, Srivastava emphasises that startups need more than applause, they need capital, infrastructure, mentorship, and regulatory environments that allow innovation to thrive. Across the continent, a new generation of techpreneurs is building solutions that are locally grounded yet globally scalable. From fintech and agritech to healthtech and edtech, African founders are no longer just responding to problems, they're anticipating them. 'It takes an ecosystem,' notes Srivastava. 'Investors, regulators, customers, and collaborators must come together with a shared belief that tech is not just an industry, but a vehicle for inclusive growth.' GoodApp's rise is a testament to that philosophy. Its platform prioritises trust, quality, and community upliftment, with every service provider undergoing rigorous vetting, background checks, and performance monitoring. Customer ratings and reviews ensure transparency, while technology enables seamless access for users across income levels and geographies. Srivastava concludes: 'As African digital economies continue to expand, platforms like GoodApp show what's possible when ambition meets support – and when startups are given the resources to scale. To policymakers: build frameworks that encourage innovation. To investors: look beyond the spreadsheet – see the vision. To founders: build with purpose, and build for people. Because the next global tech success story won't just come from Silicon Valley. It will come from Soweto, Nairobi, Lagos, or Khayelitsha. And when it does, it will be because someone chose to back an idea that mattered.'
Entrepreneur
29-05-2025
- Business
- Entrepreneur
Snabbit Raises USD 19 Mn Series B to Transform On-Demand Home Services
The Series B round was led by Lightspeed, with continued participation from Elevation Capital and Nexus Venture Partners. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Snabbit, the Mumbai-based on-demand home services startup, has raised USD 19 million in its Series B round, led by Lightspeed, with continued participation from Elevation Capital and Nexus Venture Partners. This fresh infusion comes just four months after Snabbit's USD 5.5 million Series A, underscoring strong investor conviction in the startup's breakout potential and its vision to revolutionize how Indian households access everyday services. The newly raised capital will be strategically deployed to expand Snabbit's operations from 10 to over 200 micro-markets in the next nine months. The company also plans to scale its workforce, investing heavily in team building and training, as it ramps up operations to meet rising demand. "At Snabbit, we're leading the biggest disruption in Indian consumer internet today, fundamentally changing how households access regular services," said Aayush Agarwal, Founder and CEO. "While ride-hailing transformed mobility and e-commerce reshaped fashion, regular home services remained largely undigitised. With Snabbit, we're solving for trust, quality, and speed — all at the tap of a button." Founded in 2024 by Aayush Agarwal, Snabbit is a quick-service app for home services, offering on-demand assistance for tasks like cleaning, dishwashing, and laundry. Users can book trained professionals by the hour, who arrive within 10–15 minutes, enabled by Snabbit's hyperlocal, tech-enabled infrastructure. Snabbit operates on a full-stack model, managing everything from sourcing and training experts to quality assurance and pricing. Its innovative time-based pricing and commitment to speed make it a daily utility for urban families. Snabbit is also reshaping the lives of service providers, many of whom are women from informal employment backgrounds. "They now have Aadhaar-linked bank accounts, insurance, and steady incomes," said Aayush. "Once invisible and underpaid, they're now trained, trusted, and celebrated professionals." Rahul Taneja, Partner at Lightspeed, remarked, "Aayush and the team are building a platform that brings structure and dignity to a sector long ignored. We're proud to support this transformation." Suvir Sujan of Nexus Venture Partners and Manish Advani of Elevation Capital echoed similar optimism, praising Snabbit's scalable model and its ability to crack a complex, underserved market. With this new funding, Snabbit is well on its way to making trusted, high-quality home services a mainstream part of urban Indian life.
TechCrunch
29-05-2025
- Business
- TechCrunch
Lightspeed backs Indian home services startup Snabbit as the next big consumer trend
Home services in India — whether it is cleaning, dishwashing, or laundry — have traditionally been offline and informally run. This has often resulted in delays and uncertainties for consumers, as well as inconsistent pay and job insecurity for workers. Recently, however, startups have begun viewing this area as ripe for transformation, leveraging technology to bring predictability, scalability, and structure to the space. Snabbit, founded last year, is one of the early movers in this arena, enabling customers to book high-frequency home services, including cleaning, dishwashing, laundry, and kitchen preparation, through its app, with delivery as early as 10 minutes. The startup has now raised $19 million in a Series B round led by Lightspeed, with participation from its existing investors Elevation Capital and Nexus Venture Partners, at a post-money valuation of $80 million to expand its presence. The 15-month-old startup launched its quick-service platform in the western Indian city of Mumbai, the country's financial capital, after founder and CEO Ayush Agarwal personally experienced the challenges of finding reliable home services. At one point, Agarwal told TechCrunch the situation became so difficult that his mother had to fly in from the eastern Indian city of Kolkata to help him find a new domestic worker. 'What stayed with me was that in a world of convenience where you can press a button, and you'll get a cab, or you'll get food or groceries, you can even get someone to go out on a date with, but finding someone for a simple service at home was excruciatingly difficult,' he said in an interview. The startup ran experiments in early last year and remained in one micro market in Mumbai for the first 12 months before expanding to seven markets in the city and one in Bengaluru. Snabbit took a 'full-stack approach' to sourcing, screening, training, onboarding, and managing workers, who the startup calls 'experts.' Once Snabbit signs them, it has the workers move close to the startup's demand centers so they can fulfill the company's promise to provide service in 10 minutes. Snabbit is not alone in this race, as incumbent Urban Company (backed by storied investors including Accel, Prosus, and Tiger Global) started a similar experience on its app earlier this year. However, the company faced criticism due to the initial message it conveyed and the name Insta Maids, which it later corrected and renamed to Insta Help. This did not help convince many, including gig worker unions, though. Techcrunch event Save now through June 4 for TechCrunch Sessions: AI Save $300 on your ticket to TC Sessions: AI—and get 50% off a second. Hear from leaders at OpenAI, Anthropic, Khosla Ventures, and more during a full day of expert insights, hands-on workshops, and high-impact networking. These low-rate deals disappear when the doors open on June 5. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | REGISTER NOW Similarly, newer entrants including Broomies and Pronto have also joined the arena recently. The latter even recently attracted Bain Capital Ventures for its seed funding. 'We know that the market is heating up,' he said. 'The category is getting exciting, new players are coming in and getting funded. And I think all of it is great for us as long as we keep executing relentlessly.' The startup charges customers between ₹169 (about $2) and ₹499 (nearly $6) to avail services of up to 240 minutes. The pricing is higher than that of Urban Company's Insta Help, which starts at ₹49 (50 cents). However, Agarwal said the startup continued to grow and scale even after Urban Company's foray into the market. Agarwal hopes to compete with a consistent customer experience using its in-house tech stack that includes an internal CRM tool, a sourcing and screening pipeline, and an eKYC process to better comply with local regulations. Snabbit currently has over 600 workers on its platform, and each of them covers a median walking distance of 300 meters between two jobs. It has also partnered with the mobility startup Yulu to train and provide ebikes to its women workers, covering a larger median distance of 800 meters between their jobs. Moreover, Agarwal told TechCrunch that the startup will reduce the median distance for its workers as it scales. The average ticket size on Snabbit's platform is between ₹250-₹270 (about $3), while its workers completing a 12-hour shift earn 'upward' of ₹40,000 ($470) a month. For completing 4 hours a day on the platform, the workers get over ₹10,000 ($120) a month, Agarwal said, adding that workers are also eligible for bonuses. Agarwal contends that workers can earn more than the roughly ₹9,000 ($100) that domestic helpers in urban locations are typically paid in the country, per the International Domestic Workers Federation (PDF). Better treatment for domestic workers Snabbit also provides personal life insurance, health insurance, and accidental insurance to all its workers, as well as family insurance to those who have been with the startup for some time. Workplace abuse has also been quite prevalent for domestic workers in India, as the country predominantly lacks protective laws. For such cases, the startup provides an SOS feature on its app that workers can use to call a field operations team, which reaches the location within 'five to seven minutes' to help workers in edge situations, the founder said. Over the last four months, Agarwal stated the startup grew 5x and is currently growing around 20% week-over-week. It plans to expand to over 200 micro markets across metro cities in India within the next nine months by utilizing the fresh capital and hire more employees in its workforce that has nearly 100 people. That said, several hyperlocal consumer apps have been tried and failed repeatedly. For instance, food deliveries imploded globally in 2023 after the pandemic-led lockdowns eased, but they started facing challenges in the last few months. Even in India, instant food delivery models introduced by quick commerce platforms including Zepto and Zomato have struggled. The former paused its 10-minute cafe services due to supply constraints, while the latter halted its 15-minute food delivery service just four months after launch, citing 'no incrementality in demand.' The cost of acquiring customers and providing suppliers in their location is expensive and often hard to pay over time. In Snabbit's case, TechCrunch has learned that the customer acquisition cost is ₹700 ($8), while its average ticket size is about $3. The startup has onboarded over 25,000 customers so far, and an average customer transacts on the platform at least three times a month, per Agarwal. 'Our retention rates are as good as any consumer internet company, say, a Zepto or Swiggy, would be having,' the executive said. Nevertheless, it remains to be seen how the startup can retain its customers over time and beat the competition while continuing to scale and expand its market in India. 'Snabbit is transforming home services in India by bringing speed, structure, and trust to a sector that has largely operated informally until now,' said Rahul Taneja, a partner at Lightspeed, in a prepared statement. 'We are excited to join them on this journey and support their mission to transform and scale what was once considered a luxury into a day-to-day necessity.'
Yahoo
19-05-2025
- Business
- Yahoo
Gig Economy Q1 Earnings: Angi (NASDAQ:ANGI) Simply the Best
Looking back on gig economy stocks' Q1 earnings, we examine this quarter's best and worst performers, including Angi (NASDAQ:ANGI) and its peers. The iPhone changed the world, ushering in the era of the 'always-on' internet and 'on-demand' services - anything someone could want is just a few taps away. Likewise, the gig economy sprang up in a similar fashion, with a proliferation of tech-enabled freelance labor marketplaces, which work hand and hand with many on demand services. Individuals can now work on demand too. What began with tech-enabled platforms that aggregated riders and drivers has expanded over the past decade to include food delivery, groceries, and now even a plumber or graphic designer are all just a few taps away. The 6 gig economy stocks we track reported a mixed Q1. As a group, revenues were in line with analysts' consensus estimates while next quarter's revenue guidance was 0.6% below. Luckily, gig economy stocks have performed well with share prices up 19.7% on average since the latest earnings results. Created by IAC's mergers of Angie's List and HomeAdvisor, ANGI (NASDAQ: ANGI) operates the largest online marketplace for home services in the US. Angi reported revenues of $245.9 million, down 19.5% year on year. This print exceeded analysts' expectations by 2.7%. Overall, it was a strong quarter for the company with an impressive beat of analysts' EBITDA estimates and a decent beat of analysts' number of service requests estimates. Angi achieved the biggest analyst estimates beat but had the slowest revenue growth of the whole group. The company reported 3.36 million service requests, down 18.5% year on year. Unsurprisingly, the stock is up 45.6% since reporting and currently trades at $16.38. Is now the time to buy Angi? Access our full analysis of the earnings results here, it's free. Formed through the 2013 merger of Elance and oDesk, Upwork (NASDAQ:UPWK) is an online platform where businesses and independent professionals connect to get work done. Upwork reported revenues of $192.7 million, flat year on year, outperforming analysts' expectations by 2.2%. The business performed better than its peers, but it was unfortunately a mixed quarter with a solid beat of analysts' EBITDA estimates but a decline in its customers. The market seems happy with the results as the stock is up 27.1% since reporting. It currently trades at $16.92. Is now the time to buy Upwork? Access our full analysis of the earnings results here, it's free. Founded by Stanford students with the intent to build 'the local, on-demand FedEx", DoorDash (NYSE:DASH) operates an on-demand food delivery platform. DoorDash reported revenues of $3.03 billion, up 20.7% year on year, falling short of analysts' expectations by 2.1%. It was a slower quarter as it posted EBITDA guidance for next quarter missing analysts' expectations and number of orders in line with analysts' estimates. DoorDash delivered the fastest revenue growth but had the weakest performance against analyst estimates in the group. The company reported 732 million service requests, up 18.1% year on year. As expected, the stock is down 3.1% since the results and currently trades at $199. Read our full analysis of DoorDash's results here. Based in Tel Aviv, Fiverr (NYSE:FVRR) operates a fixed price global freelance marketplace for digital services. Fiverr reported revenues of $107.2 million, up 14.6% year on year. This print surpassed analysts' expectations by 1%. More broadly, it was a slower quarter as it recorded a decline in its buyers and a slight miss of analysts' number of active buyers estimates. Fiverr scored the highest full-year guidance raise among its peers. The company reported 3.54 million active buyers, down 11.6% year on year. The stock is up 17.6% since reporting and currently trades at $31.47. Read our full, actionable report on Fiverr here, it's free. Notoriously funded with $7.7 billion from the Softbank Vision Fund, Uber (NYSE:UBER) operates a platform of on-demand services such as ride-hailing, food delivery, and freight. Uber reported revenues of $11.53 billion, up 13.8% year on year. This result came in 0.5% below analysts' expectations. All in all, it was a mixed quarter for the company. The company reported 170 million users, up 14.1% year on year. The stock is up 4.7% since reporting and currently trades at $89.90. Read our full, actionable report on Uber here, it's free. In response to the Fed's rate hikes in 2022 and 2023, inflation has been gradually trending down from its post-pandemic peak, trending closer to the Fed's 2% target. Despite higher borrowing costs, the economy has avoided flashing recessionary signals. This is the much-desired soft landing that many investors hoped for. The recent rate cuts (0.5% in September and 0.25% in November 2024) have bolstered the stock market, making 2024 a strong year for equities. Donald Trump's presidential win in November sparked additional market gains, sending indices to record highs in the days following his victory. However, debates continue over possible tariffs and corporate tax adjustments, raising questions about economic stability in 2025. Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Join Paid Stock Investor Research Help us make StockStory more helpful to investors like yourself. Join our paid user research session and receive a $50 Amazon gift card for your opinions. Sign up here.
Entrepreneur
19-05-2025
- Business
- Entrepreneur
Pronto Raises USD 2 Mn from Bain Capital to Scale Rapid Home Services
The funds will be deployed to expand operations, grow the team, and launch in newer cities as the company ramps up its rapid home services model. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Delhi NCR-based home services startup Pronto has raised USD 2 million in a seed funding round from Bain Capital, valuing the company at USD 12.5 million. The funds will be deployed to expand operations, grow the team, and launch in newer cities as the company ramps up its rapid home services model. Founded in October 2024 by Anjali Sardana, a BS Biology graduate and former investor at Bain Capital and 8VC, Pronto enables users to book cleaning, laundry, and domestic help services within 10 minutes. The startup assigns professionals for tasks like dishwashing, mopping, and clothes washing, riding the quick commerce wave pioneered by Blinkit, Zepto, and Swiggy Instamart. "We are on a mission to create two million jobs in two years. We're growing hyper fast and scaling our team rapidly to meet demand," said Sardana. "Building in a tough, often misunderstood space isn't easy. But we've stayed focused on what matters—earning trust, delivering value, and scaling responsibly. Grateful for Bain Capital Ventures' belief in our mission to transform domestic work in India," she added in a LinkedIn post. Pronto's funding comes just weeks after its direct competitor Snabbit raised USD 5.5 million in a Series A round led by Elevation Capital and Nexus Venture Partners. Both startups are taking on the likes of IPO-bound Urban Company by offering faster, tech-enabled alternatives for household chores. While some users remain skeptical of the need for instant domestic services, investor confidence in quick commerce remains strong. Since 2021, India has seen a surge in startups innovating around rapid service delivery—from groceries to fashion. While Pronto and Snabbit tackle home services, others like Slikk are reimagining fast fashion, showing the broader potential of India's quick commerce ecosystem.
