Quick bitan Indian on-demand home services startup, has closed a $56 million funding round, confirming Read’s earlier report.
Co-led by Susquehanna Venture Capital, Mirae Asset Venture Investments’ Unicorn Growth Fund, and Bertelsmann India Investments, the company’s Series D round values the Bengaluru-based startup at around $350 million, according to a person familiar with the matter. That’s up from $180 million about six months ago. Existing investors Nexus Venture Partners and Lightspeed also participated, alongside FJ Labs. The company has raised about $112 million in total.
Founded in 2024, Snabbit said it is now processing over 40,000 jobs daily across a network of more than 15,000 workers in five cities, offering services such as cleaning, dishwashing, and laundry as demand for rapid, on-demand home services grows in urban India.
The startup said the amount it loses on each order has fallen about 50%, while its customer acquisition costs have shrunk roughly 65%.
Snabbit’s fundraise comes as investor interest in India’s on-demand home services sector heats up, with rival Pronto also in talks to raise fresh capital and publicly traded Urban Company reporting more than one million monthly bookings.
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