Synopsis
Quick service platform Snabbit has appointed Abhinav Ankur as its chief business officer. This move comes as the house help segment experiences significant demand. Snabbit has seen substantial growth in daily jobs. Rival platforms like Urban Company's InstaHelp and Pronto are also reporting high booking numbers. The sector is attracting venture capital, with Snabbit and Pronto raising substantial funds.Listen to this article in summarized format
Ankur will lead Snabbit’s business expansion as it "deepens its position as a category creator,’’ the company said in a statement. Snabbit competes with listed player Urban Company and the General Catalyst-backed Pronto.
Prior to joining Snabbit, Ankur was the business head at Wheelseye, an online truck booking platform, between April 2023-26. Before that he was the chief revenue officer at Oyo, where he spent more than six years.
Uptick in demand
In six months, Snabbit has scaled from 10,000 to over 40,000 jobs daily and crossed the one million mark (cumulatively, till date) in March. A year ago it was handling 400 orders daily.
Meanwhile, InstaHelp, a part of Urban Company, serviced more than a million bookings in March, with three days remaining for the month to end. In February, Instahelp clocked 840,000-850,000 orders.
Pronto, founded by Anjali Sardana, crossed the 500,000 fulfilled bookings mark in March, when it turned one. In February, the platform scaled to over 15,000 orders per day within 10 months of launch.
Funding
The growing sector has caught the eye of venture investors over the past year.
Snabbit is raising $50-60 million (about Rs 463-555 crore) led by South Korea’s Mirae Asset Venture Investments and existing backer Bertelsmann India Investments (BII), ET reported in March. It has totally raised more than $55 million in about 18 months of launch.
Rival Pronto raised $25 million in March in a round led by Epiq Capital, with participation from existing investors Glade Brook Capital, General Catalyst, and Bain Capital Ventures. With this, Pronto has a post-money valuation of $100 million.
