Accel, SAIF make investments worth $10 m in UrbanClap

UrbanClap,  mobile-based services marketplace, has raised $10 million in funding from its existing investors SAIF Partners and Accel Partners. The Gurgaon-based startup plans to invest to scale up its operations across the country, strengthen its technology and grow its 100-member Enterprise asset management (EAM) to 500-plus.

“Local services is a very big market and a pain point for the India consumer. There is high level of non-standardization of service quality, pricing and supplier base. The market is ripe for disruption, both from a discovery and consumption of services perspective,” Mukul Singhal, Director, SAIF Partners, said.

Started in October last year by Abhiraj Bhal, Varun Khaitan, and Raghav Chandra, UrbanClap offers 50+ services across five major categories -home, health, events, lessons and other personal services, which include things like salon at home and party makeup.