UrbanClap raises $50 million from Steadview Capital, others

Home services startup UrbanClap on November 30 said it has raised $50 million in primary capital in its Series D round of funding which was led by Steadview Capital and existing investor Vy Capital. Besides the primary round, the company is also facilitating a secondary sale of ESOPs and stocks worth approximately $4 million for its employees and angel investors.

The fund will be used in team building, enhancing supply chain of consumables among other things. It also plans to expand its business to tier 2 cities in India.

This is the second time that UrbanClap’s employees are getting an opportunity to liquidate their ESOPs, the first instance being at the time of its Series C round of funding in June 2017. Founded in 2014, UrbanClap, founded in 2014, helps customers order services like beauty and massage, appliance repair, plumbing, carpentry, cleaning, painting, etc."We have a mission to create more than 1 million micro-entrepreneurs for India and other emerging markets. Today, approximately 15,000 service professionals earn their livelihood through the UrbanClap platform. We would like to grow that number 100 times over the next 5 years," said Raghav Chandra, founder of UrbanClap. The company’s other investors include Accel Partners, SAIF Partners, Bessemer Venture Partners and Ratan Naval Tata.