Snabbit says it has surpassed 1,15,000 jobs a day
Snabbit says the milestone reflects rising demand for app-based home services amid growing competition in the sector.
Bengaluru-based on-demand home services platform Snabbit has surpassed a significant milestone, fulfilling 1,15,000 jobs daily. This achievement is a testament to the increasing demand for on-demand domestic services and the company's financial discipline during its rapid scaling. The platform recently crossed 50,000 daily jobs and 1 million monthly jobs, underscoring its swift growth trajectory.
Since its inception, Snabbit has evolved from serving around 400 jobs daily to over 1,15,000 within just two years, extending its reach to 10 cities and numerous micro-markets.
The platform provides a range of services, including home cleaning, dishwashing, laundry, kitchen preparation, home-cooked meals, and salon services at home. Snabbit has also focused on improving its unit economics, a metric showing the company's earnings or losses per transaction. In the latest quarter, the consolidated net order value, after accounting for discounts, exceeded Rs 130, while the cost per job, or the loss incurred on each completed booking, decreased by more than Rs 100 from the previous quarter to below Rs 250.
Snabbit's progress has been particularly notable in emerging categories like home cooks and salon services at home.
These accomplishments come at a time when India's quick home-services market is rapidly expanding, with urban consumers increasingly relying on apps for routine household tasks. The sector remains competitive, with companies striving to balance growth and profitability amidst high customer acquisition and worker incentive costs.
Established rivals such as Urban Company and Pronto are investing heavily in instant home-services, while investors continue to support the segment despite the challenges. Pronto recently secured new funding in May this year. Snabbit raised $56 million in a Series D funding round in April, bringing its total funding to approximately $112 million.
The capital will be utilized for technology development, expanding into new markets, and enhancing the experience for service professionals.
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