Snabbit’s $19 Million Series B Round: The Quick Service Startup Everyone’s Talking About
Snabbit, the on-demand home services startup, just made headlines with a massive $19 million Series B funding round led by Lightspeed Venture Partners. Existing investors Nexus Venture Partners and Elevation Capital also jumped in, fueling Snabbit’s rapid growth.
What’s Behind Snabbit’s Surge? A Closer Look at the Funding and Valuation
- Snabbit plans to issue 65,165 Series B preference shares at a whopping ₹24,914.93 each
- The total raise amounts to ₹162.35 crore (about $19 million)
- Lightspeed leads with an investment of ₹94 crore ($11 million)
- Nexus Venture Partners and Elevation Capital each chip in around ₹34.18 crore ($4 million)
Valuation Explosion: From $23 Million to a Staggering $80 Million
Snabbit’s valuation just jumped 3.5 times since its last round in Series A, now sitting at roughly ₹684 crore ($80 million) — a remarkable leap in less than a year!
What Makes Snabbit So Hot Right Now?
Founded in 2024 by Aayush Agarwal, Snabbit is transforming the way households get everyday chores done. From cleaning and dishwashing to laundry, the platform offers trained professionals you can book by the hour — and they arrive within 10 minutes!
Currently, Snabbit boasts over 600 professionals, with that number doubling every month, signaling massive demand for fast, reliable home services.
Why Investors Are Betting Big on Snabbit
The rapid growth and soaring valuation show strong investor confidence. With a market hungry for convenient, on-demand home help, Snabbit’s blend of speed, quality, and technology is a winning formula.
What’s Next for Snabbit?
- Scaling up professional network beyond 600 experts
- Expanding into more cities and neighborhoods
- Enhancing tech and user experience for faster bookings
If growth continues at this pace, Snabbit could become the go-to app for home services across India — and a startup to watch closely.
