Exclusive: Snabbit set to raise $30 Mn with over 2X valuation premium

On demand home service platform Snabbit is raising Rs 265.4 crore (around $30 million) in a Series C round led by new investor Bertelsmann, with participation from existing backers Lightspeed Venture Partners, Elevation Capital, and Nexus Venture Partners.

This marks the third funding round within 10 months of 2025 for the Bengaluru-based company, which last raised $19 million in its Series B round in May. 

Snabbit recently relocated its base from Mumbai to Bengaluru.

The Snabbit’s board passed a special resolution to approve the issuance of 54,876 Series C CCPS at an issue price of Rs 48,377 apiece to raise the above mentioned sum, its regulatory filing accessed from Registrar of Companies (RoC) shows.

As per the filing, Bertelsmann will lead the round with an investment of Rs 135.39 crore ($15.38 million). Existing investors Lightspeed and Elevation Capital will each contribute Rs 53 crore ($6 million), while Nexus Venture Partners will invest Rs 23.89 crore to increase its stake in the company.

The proceeds from the funding will be used to meet its working capital needs and capital expenditure to sustain growth, expand its user base in India, and address general corporate purposes, the filing added.

According to Entrackr’s estimates, Snabbit’s valuation is set to surge over 2X to Rs 1,516 crore ($172 million) from $80 million in its Series B round. Notably, the company was valued at $23 million post its Series A round in January this year. 

Founded in 2024 by Aayush Agarwal, Snabbit is an on-demand home services platform that connects households with trained professionals for tasks such as cleaning, dishwashing, and laundry. Users can book experts by the hour, with service providers arriving within 10 minutes.

According to startup data intelligence platform TheKredible, Snabbit had raised around $25 million prior to this round. Following the latest allotment, new investor Bertelsmann will hold an 8.5% stake in the company, while Nexus Venture Partners will remain the largest external shareholder with a 21.24% stake. Elevation Capital and Lightspeed will own 19.93% and 14.79% stakes, respectively.

Snabbit directly competes with industry leader Urban Company, which was recently listed on Indian stock exchanges. It also faces competition from Pronto, a ten-minute house help service startup that raised $11 million in a round co-led by General Catalyst and Glade Brook Capital.