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Tag: Urban Company

  • Urban Company: Scaling Up, Empowering Workforce and Eyeing Global Markets

    A technology platform that offers a wide range of home services, Urban Company, allows customers to book appointments for services such as beauty treatments, haircuts, massage therapy, cleaning, plumbing, carpentry, appliance repair, painting, and more. These services are delivered in the comfort of the customer’s home and at a time of their choosing. The platform is committed to ensuring a high-quality, standardized and reliable service experience.

    In this article, we will explore more about Urban Company, its startup story, founder, business model, revenue model, funding, and more.

    Urban Company – Company Highlights

    Company Name Urbanclap Technologies India Limited
    Headquarters Gurugram, India
    Sector Technology and Consumer Services
    Founded 10 November 2014
    Founders Abhiraj Singh Bhal
    Valuation $2.64 billion (2024)
    Website urbancompany.com

    Urban Company – About
    Urban Company – Industry
    Urban Company – Founders and Team
    Urban Company – Startup Story
    Urban Company – Mission and Vision
    Urban Company – Name, Tagline and Logo
    Urban Company – Business Model
    Urban Company – Revenue Model
    Urban Company – Employees
    Urban Company – Challenges Faced
    Urban Company – Funding and Investors
    Urban Company – Shareholding
    Urban Company – Mergers and Acquisitions
    Urban Company – IPO
    Urban Company – Online and Social Media Presence
    Urban Company – Advertisements and Social Media Campaigns
    Urban Company – Awards and Achievements
    Urban Company – Competitors
    Urban Company – Future Plans

    Urban Company – About

    Urban Company connects skilled and experienced professionals with customers seeking specific services. To achieve this, they work closely with carefully selected service professionals, providing them with technology, training, products, tools, financing, insurance and branding to help them succeed and deliver exceptional service. Their advanced match-making algorithm identifies professionals who best meet the customer’s needs and are available at the preferred time, ensuring a seamless and tailored experience for all users.

    Urban Company – Industry

    The IT and Business Process Management (BPM) sectors have become key economic drivers, and by end 2025, IT’s GDP share is expected to hit 10%. India, with 76 crore internet users and some of the cheapest rates, is poised for further IT growth, though the digital talent gap may grow 3.5 times by 2026. IT and BPO services account for over 60% of service exports, with a 14% CAGR over two decades.

    Urban Company plays a vital role in this boom by leveraging technology, expanding into Tier 2 cities, and driving the gig economy forward through digital innovation and workforce empowerment.

    Urban Company – Founders and Team

    Abhiraj Singh Bhal

    Abhiraj Singh Bahl - Co-founder and CEO, Urban Company
    Abhiraj Singh Bahl – Co-founder and CEO, Urban Company

    Abhiraj Singh Bhal, co-founder and CEO of Urban Company, plays a pivotal role in overseeing the company’s operations and managing the onboarding process for service providers. His leadership has helped scale the platform into a dominant force in the home services market across Asia.

    Abhiraj has earned several prestigious accolades, including being named in Fortune’s 40 Under 40 and Fortune’s 30 Under 30, as well as receiving the Entrepreneur Award at NTLF 2020.

    On a personal note, Abhiraj comes from a family of high achievers. His father, Commodore Ashok Bhal, is a retired naval officer who specialized in electrical engineering at IIT Roorkee before serving in the Indian Navy, focusing on weapon systems. Now settled in Visakhapatnam, his father’s career has been a source of inspiration.

    Outside of work, Abhiraj enjoys staying active through marathons, skydiving, and scuba diving. He also loves cooking, especially preparing his wife Urvi’s favorite dishes—a passion that allows him to unwind and connect with family.

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    Urban Company – Startup Story

    Abhiraj Singh Bhal, Co-Founder and CEO of Urban Company (formerly UrbanClap), has an impressive journey from his early years in Mumbai to leading Asia’s largest home services marketplace.

    He completed his schooling at Navy Children’s School in Mumbai before moving to Visakhapatnam for the later part of his education. Abhiraj holds a Bachelor’s degree in Technology from IIT-Kanpur and an MBA from IIM Ahmedabad.

    Post-MBA, Abhiraj joined the Boston Consulting Group (BCG) in Singapore as a consultant, advising Fortune 500 companies across India, Germany, and Southeast Asia. After spending over three years at BCG, Abhiraj returned to India and launched a movie streaming venture called Cinema Box with Varun Khaitan, a batchmate from IIT-Kanpur who was also working with BCG in the U.S. The service allowed users to stream movies on smartphones via Wi-Fi while traveling.

    Around this time, they connected with Raghav Chandra, a computer science graduate from the University of California, Berkeley, who was working on an auto-rickshaw aggregator startup called Buggy.in. Although initially dismissive of each other’s ventures, the three entrepreneurs eventually shifted their focus to the home services market after recognizing its highly fragmented and unorganized nature in India.

    The trio began by personally searching for service professionals like beauticians, plumbers, and photographers, connecting them to friends and families. They tested the concept within social circles and FB groups, identifying people looking for such services. This led to the creation of UrbanClap (now Urban Company) in 2014. Their first investment was a modest INR 4,000 on Facebook ads to test the platform.

    Initially, they bootstrapped the business before raising $1.6 million in funding from Accel Partners and SAIF Partners, propelling Urban Company into the fast-growing home services space.

    Urban Company – Mission and Vision

    Their vision is to empower millions of professionals worldwide to provide home services in a way that has never been experienced before.

    Partner Empowerment

    Urban Company has put in significant effort to create a support system that empowers its service partners. While enabling them to operate as independent micro-entrepreneurs, the platform also offers a protective framework. On average, these partners earn between INR 280 and 300 per hour after covering commissions, fees and all related product and travel expenses.

    Additionally, every service partner is provided with life and accidental insurance, free training, access to loans and essential resources like PPE kits and vaccinations. Many partners also benefit from free health insurance, ensuring they are well-supported on both a professional and personal level.

    Urban Company operates on the belief that both customers and service partners are equal stakeholders. The company was founded to bring organization and transparency to the home services industry, benefiting everyone involved. Before Urban Company, the market was largely controlled by middlemen and aggregators who limited access and took a big portion of the profits. By cutting out these intermediaries, Urban Company has opened up opportunities for independent workers and given them a stronger voice in the industry.

    Urban Company’s commitment to its partners has been consistent and unwavering, both before and during the pandemic. They’ve supported their partners through difficult times and will continue to do so, ensuring that they have the tools and resources needed to succeed.

    Urban Company Logo
    Urban Company Logo

    Since the digital world is embracing flat design, a trend that’s being adopted by some of the biggest brands, this shift simplifies design elements, moving away from the heavily textured styles of the past. Flat design helps bridge the gap between the physical and digital worlds, offering users familiar, real-world visual cues to navigate online. Urban Company has always aimed to encourage users to seek online solutions for their problems, positioning the digital space as the go-to choice over traditional offline methods. In exactly this way, they created an ideal logo that envelopes all these vital points!

    Urban Company – Business Model

    Fixed Fee Services

    For services like plumbing and electrical repairs, payments are processed through the app. The company takes a percentage of the payment as their fee, then transfers the rest to the hired service provider.

    No-Fee Upfront Services

    Here, the company invests in generating leads and listing service providers, without charging customers upfront. Instead, service experts pay a fee to accept and confirm a job request. If they successfully close the deal with the customer, the service is monetized.

    Customers are offered five service provider options to choose from. If a provider isn’t selected, they receive credit towards future opportunities. The more effective the algorithm, the less effort the customer has to put in to find the right service.

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    Urban Company – Revenue Model

    Revenue through Commissions

    Urban Company’s primary revenue source, making up 85% of its earnings, comes from a commission-based model tied to a subscription. Service providers are charged a percentage of the service fee for each task they complete. This system ensures that users receive quick and dependable service, while providers are compensated based on their workload. The commission rate varies depending on the type of service, allowing Urban Company to scale its income as the volume of completed jobs grows.

    Bid-Based Model for Professionals

    For specialists like photographers, interior designers, and yoga instructors, Urban Company operates a bid-like system. Instead of customers immediately booking services, professionals pay a fee to access and bid on leads. Their success in generating revenue depends on their ability to win over customers after being introduced through the platform. The algorithm presents users with five options, and if a professional is not chosen, their bid fee is reimbursed. The better the algorithm, the less effort is required from users to find the right expert.

    Generating Leads

    Lead generation is another way Urban Company generates income. Users describe their service needs, and experts either contact them directly or are approached by the clients themselves. Professionals are charged for these leads, effectively paying to be introduced to potential customers, creating an ecosystem where clients can easily find the services they require.

    Income from Advertising

    Beyond commissions and lead generation, Urban Company also makes money through advertisements. Service providers and businesses pay to promote their offerings on the platform, boosting their visibility in return for advertising fees. This strategy adds another revenue stream while enhancing the exposure of service providers to a wider audience.

    Urban Company – Employees

    Urban Company has between 1,000 and 5,000 employees in India and around the world. This team helps provide quality home services in many places, showing the company’s growth and commitment to its customers.

    Urban Company – Challenges Faced

    Revenue Streams and Profitability

    Urban Company doesn’t rush into defining its business model and unit economics. Instead, they focus on validating customer behavior and product-market fit first. Scaling isn’t about just gaining users or raising funds; it’s about ensuring key metrics like acquisition costs, operational expenses, and transaction revenue are positive. They believe growth must be built on a solid economic foundation.

    A major challenge for Urban Company is managing diverse service categories with unique requirements. CEO Bahl highlights pricing as particularly difficult since costs aren’t always clear upfront. To solve this, Urban Company develops all its technology in-house, with 100 engineers building systems that integrate pricing, fulfillment, and finance. Their advanced tech, powered by machine learning, ensures smooth operations across inventory, service delivery, and pricing.

    Customer-Centric Solutions and Market Niche

    Urban Company takes a careful approach to product-market fit, knowing that rapid growth without solid unit economics can lead to failure. Instead of rushing to scale, they focus on refining their product to meet market demand before expanding aggressively.

    A unique challenge they face is the matchmaking process. Unlike on-demand services like food delivery, Urban Company deals with scheduled services, where customers book in advance. The key is predicting when customers will need services and pairing them with the right professional at the right time. Their tech, powered by predictive engines, ensures smooth coordination between customers and service providers.

    Hiring and Team Dynamics

    Urban Company takes pride in its meticulous approach to hiring and team building, knowing that a strong team is essential for growth. In a market where perks often overshadow company values, they prioritize aligning talent with their core mission. As Urban Company continues to scale, they ensure that every team member grows with the company. Clear communication channels and a shared vision are critical to this process.

    Additionally, Urban Company’s commitment to technological innovation is evident in the way they manage their platform. Their systems don’t just handle customer-facing functions; they also support internal operations like training, fulfillment, and inventory management. For example, the company’s predictive engines monitor the inventory that professionals use, from cosmetics to spare parts and notify them when supplies are running low. This level of automation and intelligence reduces the manual effort required and keeps operations running efficiently, allowing Urban Company to stay focused on delivering high-quality service.

    By integrating advanced technology into their business model, Urban Company ensures that their platform continues to evolve and meet the needs of both customers and service professionals. This forward-thinking approach helps them address challenges proactively, allowing them to build a sustainable, scalable business.

    Urban Company – Funding and Investors

    Urban Company has garnered support from 22 institutional investors, including Accel, Elevation Capital, and Trifecta Capital.

    Urban Company has attracted investment from Kalyan Krishnamurthy and 11 other angel investors.

    Urban Company has raised around US$560 million across 14 funding rounds so far. In September 2025, Urban Company raised US$56.7 million in a Pre-IPO round from investors including SBI Mutual Fund, Permira, Prosus, and Elevation Capital.

    Announced Date Transaction Name Number of Investors Money Raised Lead Investors
    September, 2025 Pre-IPO – $56.7 million SBI Mutual Fund, Permira, Prosus, Elevation Capital
    July 17, 2024 Secondary Market 2 $63 million Dharana Capital
    June 2, 2021 Secondary Market – $67 million –
    April 27, 2021 Series F 7 $188 million Dragoneer Investment Group, Prosus Ventures, Wellington Management
    August 25, 2020 Secondary Market 1 $5 million Vy Capital
    August 2, 2019 Series E 3 $75 million Tiger Global Management
    July 26, 2019 Series D 2 INR 14.9 million SAB Holdings, Udhyam Learning Foundation
    November 30, 2018 Series D 2 $50 million Steadview Capital
    July 3, 2017 Series C 4 $21 million Vy Capital
    April 24, 2017 Debt Financing 1 INR 200 million Trifecta Capital Advisors
    December 11, 2015 Venture Round 1 – –

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    Urban Company – Shareholding

    Urban company’s shareholding pattern as of May 2024, sourced from Tracxn:

    Urban Company Shareholders Percentage
    Abhiraj Singh Bhal 8.9%
    Raghav Chandra 8.9%
    Varun Khaitan 8.9%
    Accel 12.7%
    Elevation Capital 11.2%
    Vy Capital 12.2%
    Bessemer Venture Partners 9.2%
    Steadview 7.7%
    Tiger Global Management 5.5%
    Naspers 4.0%
    Wellington 2.1%
    ABG Capital 1.4%
    Dragoneer Investment Group 2.6%
    SAB Holding < 0.1%
    QED Innovation Labs < 0.1%
    Trifecta Capital –
    Partner Welfare Trust –
    Enterprise < 0.1%
    First Lap < 0.1%
    Ra Hospitality Holdings Co < 0.1%
    Elysian Fintech < 0.1%
    Angel 0.8%
    Other People < 0.1%
    ESOP Pool 3.9%
    Other Investors 0.1%
    Total 100.0%

    Urban Company – Mergers and Acquisitions

    Urban Company has expanded its reach through three key acquisitions across three different countries. The most active year for these takeovers was 2016 when the company added two new businesses to its portfolio. While their acquisitions span multiple regions, Australia and India are the primary hotspots where they’ve focused their growth.

    A lot of Urban Company’s deals center around the Local Services and Beauty Tech sectors, aligning perfectly with their core services. Their latest acquisition? Glamazon—a web and mobile platform offering at-home beauty services. Founded in 2013 in Bondi, Glamazon became part of the Urban Company family in March 2020.

    Acquired On Company Acquired
    March 4, 2020 Glamazon
    August 10, 2016 Goodservice
    January 22, 2016 handyhome

    Urban Company – Financials

    Urban Company Financials FY24 FY25
    Revenue from operations INR 828 crore INR 1144 crore
    Total Expenses INR 1021 crore INR 1223 crore
    Profit/Loss Loss of INR -92.7 crore Profit of INR 28.5 crore
    Urban Company Financials
    Urban Company Financials

    Urban Company – IPO

    Urban Company made a remarkable debut on the National Stock Exchange (NSE) on September 17, 2025. The company’s shares opened at INR 162.25, marking a 57.5% premium over the IPO issue price of INR 103. By the end of the trading day, the stock closed at INR 169, a 64.08% increase, reflecting strong investor confidence and enthusiasm.

    The IPO was one of the most anticipated of 2025, with a subscription rate exceeding 100 times, making it the most subscribed public offering of the year. The company raised INR 1,900 crore through the offering, comprising a fresh issue of INR 472 crore and an offer-for-sale of INR 1,471 crore by existing shareholders.

    Urban Company’s impressive listing performance has also been a significant win for early investors. Accel, which invested INR 14.3 crore in the company, saw its stake appreciate to approximately INR 390 crore following the IPO debut

    Urban Company – Online and Social Media Presence

    Urban Company is all about creating brand love and awareness by tapping into conversations and cultural events that bring people together. Their approach to Instagram, YouTube and Twitter (now X) is tailored specifically for each platform, giving them a unique edge in engaging with a wide range of audiences.

    In January 2020, they rebranded from UrbanClap to Urban Company, signaling their ambition to become a global gig marketplace with a diverse range of services under one roof.

    With a strong marketing strategy, they’ve been rolling out content that aligns with their vision—like the #UrbanCompanyImpact or #UCImpact campaigns. One of their latest initiatives is a content series called ‘Urban Company Impact,’ offering a behind-the-scenes look into the lives of the professionals who visit your homes, delivering the services you depend on. It’s a personal and powerful way to connect with the brand!

    Urban Company Impact

    Urban Company – Advertisements and Social Media Campaigns

    Urban Company has taken a bold step in challenging the way we view the divide between white-collar and blue-collar workers in India. Over the past year, they’ve been addressing this issue head-on through a series of thought-provoking films. Following Chhota Kaam and Chhoti Soch, their latest release, Dignity of Labour, dives into the often overlooked but deeply ingrained bias against manual labor. The film revolves around a heartfelt exchange between a father and his daughter, sparking a conversation on the importance of respect for all types of work, regardless of the uniform worn.

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    Urban Company – Awards and Achievements

    At the ET Startup Awards 2021, Urban Company took home the prestigious Covid-led Business Transformation award.

    Urban Company – Competitors

    Some of the main competitors of Urban Company are as below:

    • Concord Services in home appliances repair category
    • Urban Service Plaza in AC, Fridge and other appliances service
    • Housejoy, which a home service platform
    • Busy Bucket Services which provides cleaning services

    Urban Company – Future Plans

    • #FutureFemaleForward
      Urban Company has ambitious plans for the future, with a strong focus on empowering women in the workforce.

    Our first goal is to have 5 lakh service partners, with 2 lakh of them being women,” says Abhiraj Singh Bhal, Co-Founder and CEO of Urban Company.

    This highlights the company’s commitment to gender diversity and inclusion.

    • Urban Company is also turning its attention to India’s Tier 2 markets, where it has already expanded into 40 cities with promising results. Bhal shared that these cities, where they’ve launched in recent years, have shown impressive growth, prompting the company to deepen its presence in these regions.
    • On the international front, Urban Company is close to announcing a joint venture in Saudi Arabia, marking a significant milestone in its global expansion plans.

    FAQs

    What is Urban Company?

    Urban Company connects skilled and experienced professionals with customers seeking specific services. To achieve this, they work closely with carefully selected service professionals, providing them with technology, training, products, tools, financing, insurance and branding to help them succeed and deliver exceptional service.

    Who is Urban Company’s owner?

    Abhiraj Singh Bhal is the founder and CEO of Urban Company.

    When did Urban Company start?

    Headquartered in Gurugram, Urban Company was founded on 10th November 2014.

    What is Urban Company valuation 2025?

    As of September 2025, Urban Company is valued at INR 24,216 crore (~$3 billion USD) after its IPO, following a 74% surge on its first trading day.

    Which is Urban Company parent company?

    Urban Company, formerly known as UrbanClap, is an independent company and does not have a parent company.

  • Urban Company Business Model: How It Works and Makes Money

    Urban Company, previously UrbanClap, has made our at-home services so easy. It has revolutionized the way we use our various services.

    Earlier, we had to go out to get our services done. But with Urban Company, we get to enjoy them at home. The services include beauty, spa, repair work, cleaning, and more.

    It aims to provide authentic and affordable services to the users. To enable these home services and manage the processes, the company possesses a great business model. Its model ensures the connectivity of skilled professionals with service users.

    Urban Company is making its stock market debut on September 17, 2025, on the BSE and NSE, following the completion of its IPO allotment on September 15.

    Let’s look at the business model of Urban Company, the company that involves proper planning, management, and business strategies. This helped them become one of the most popular startups.

    About Urban Company
    Founders and Team
    Urban Company Business Model
    The Business Model of Urban Company | How Urban Company Works
    How does Urban Company Make Money | Urban Company Revenue Model
    What are the Main Resources of Urban Company

    About Urban Company

    The company, founded in November 2014, is a home services company. The Urban Company came into existence to connect local services with technology. It enables the customers to get their required services at home.

    Founders and Team

    Varun Khaitan, Raghav Chandra, and Abhiraj Bhal - Urban Company Founders
    Varun Khaitan, Raghav Chandra, and Abhiraj Bhal – Urban Company Founders

    The masterminds behind this startup are Varun Khaitan, Raghav Chandra, and Abhiraj Bhal. They co-founded the company with an early-stage budget of INR 10 lakhs.

    Varun Khaitan

    Varun Khaitan is an IIT Kanpur alumnus who completed his B.Tech in Electrical Engineering and then went on to join Qualcomm as an Engineer. Leaving Qualcomm, Khaitan joined The Boston Consulting Group, where he served as an Associate and a Consultant. After serving the role for more than 2 and a half years, Khaitan left the company and started up with Urban Company.

    Raghav Chandra

    Raghav Chandra, another co-founder of Urban Company, served as a Software Engineer at Twitter before founding Urban Company, teaming with the other co-founders. Raghav has also founded another company, Buggi, in the interim. Raghav has interned in a series of companies, including Roamware, Infosys SETLabs, UC Berkeley, and Yelp Inc., after completing his BS in Computer Science and Engineering from the University of California, Berkeley.

    Abhiraj Singh Bhal

    Abhiraj Bhal is another co-founder of Urban Company. Bhal also has a background in Engineering, and that too in Electrical Engineering from IIT Kanpur, much like the previous co-founder. After completing his graduation, Abhiraj opted for an MBA in Business Administration from IIM Ahmedabad. He first joined as a Consultant at The Boston Consulting Group, where he served in the role of Consultant for 3 years. After quitting, he co-founded Urban Company.

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    Operating Areas

    The Urban Company, founded in 2014, is the largest at-home services company in India and the UAE. The company operates in Dubai, Abu Dhabi, Sydney, Singapore, and fourteen cities in India.

    Services and Audience

    The Urban Company provides over 100 services now. These include beauty, grooming, cleaning, repairs, home educators, fitness trainers, and many more.

    This new-age startup has a solution for almost all our services with one click. These various services have enabled the company to have a broad audience overall.

    The main idea of the startup was to enable people to hire any service from the comfort of their homes. Indeed, it is doing a great job and has shown amazing growth.

    The Urban Company has made a big name for itself in the service industry. It has developed an amazing amount of reliability among the customers.

    By looking at all this, a few questions come to our minds. For example, how did a startup that started with a mere INR 10 lakhs grow so much? In this uncertain era, how are people even trusting the platform?

    All such questions have a simple answer. It is the company’s simple yet super-effective business model backed by huge investments.

    The company launched another service in 2022, where it would be offering free medical consultation, focusing on the hair and skin problems of women. As per the reports, Urban Company onboarded some dermatologists to give free medical counseling in a few Indian cities. Renowned cosmologist Dr Amit Karkhanis has been roped in by Urban Company to head its medical team.

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    Urban Company Business Model

    How Urban Company Works | Urban Company Business Model Canvas
    How Urban Company Works | Urban Company Business Model Canvas

    The Urban Company has a straightforward business model. This is to connect the customers with their required services at home. The company helps you to bring in beauticians, fitness trainers, educators, electricians, plumbers, photographers, and many more.

    It is a full-stack startup that uses algorithms for automated matchmaking. To make the platform more trustworthy, the company ensures public safety. The company performs background checks and also police verification of all the service providers.

    The Urban Company is growing and gaining customers’ trust with its two-fold business model.

    The Business Model of Urban Company | How Urban Company Works

    Urban Company Business Model, Visit Urban Clap Website for urban company services list
    Urban Company Business Model

    The Urban Company works on a two-fold model. This involves:

    Services with Fixed Charge

    Whenever a person uses the services of hiring a beautician, cleaner, or anything, they get charged through the app. It means they pay for the availed services through the app.

    In this way, the company takes a fixed commission from this revenue.

    Services without the Fixed Charges

    There is a lead generation and sponsored listing. For this, the company charges the experts. The company makes sure that the users do not have to pay till they are satisfied with the services.

    There is a process. In this, at first, the service providers have to pay a fee to accept the customer’s request. If the professional can satisfy the user and get paid for the services, then the monetization will be worth it.

    Therefore, the urban company has created a successful business model for itself. It has begun to use the technology of Artificial Intelligence and Machine Learning. This helps the app discover data insights and patterns of the users. This, after all, helps the company to know its customers’ needs better.

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    How does Urban Company Make Money | Urban Company Revenue Model

    Urban Company’s revenue model comprises four key methods for generating income:

    Commissions

    Urban Company generates the majority of its revenue from subscription fees. They employ a commission-based model, charging a percentage of the service’s total price to the business owner. This approach ensures swift and dependable service for all customers. Urban Company determines specific commissions from each vendor or service provider based on their respective tasks. Thus, the more services they perform, the greater the rewards they receive for providing home services.

    Lead Generation

    Urban Company primarily earns revenue through commission charges, with lead generation as a secondary income stream. In the lead generation process, customers outline their needs, and the platform suggests suitable service providers. Customers can then directly contact these experts or be contacted by them. This approach facilitates connections between service providers and customers. As a result, Urban Company charges professionals and service providers for lead generation opportunities.

    Reverse Auction

    Service providers have the option to invest a fixed amount in promoting their skills through the Urban Company platform. In return for this investment, the company assists service providers in enhancing their conversion rates and generating leads.

    Ads or Commercials

    In addition to the previously mentioned revenue streams, another avenue for generating income is through advertisements. Various big businesses and manufacturers run their ads on the company’s platform. The company thus gets a fee in exchange for this.

    Urban Company Revenue
    Urban Company Revenue
    Urban Company Financials FY25 FY24 FY23
    Revenue from operations INR 1,144.5 crore INR 827 crore INR 636.6 crore
    Total Expenses INR 1,223.47 crore INR 1,020.8 crore INR 1,038.9 crore
    Profit/Loss INR 28.5 crore Loss of INR 92.8 crore Loss of INR 312.5 crore

    Urban Company has been on quite a growth journey! In FY25, Urban Company reported revenue from operations of INR 1,144.5 crore, up from INR 827 crore in FY24 and INR 636.6 crore in FY23. Its total expenses stood at INR 1,223.47 crore in FY25, compared to INR 1,020.8 crore in FY24 and INR 1,038.9 crore in FY23. After years of losses, the company turned profitable in FY25, posting a profit of INR 239.8 crore, against a loss of INR 92.8 crore in FY24 and a loss of INR 312.5 crore in FY23.

    Urban Company has raised around US$560 million across 14 funding rounds so far. In September 2025, Urban Company raised US$56.7 million in a Pre-IPO round from investors including SBI Mutual Fund, Permira, Prosus, and Elevation Capital. The company recently became a unicorn, reaching a $2 billion valuation. 

    What are the Main Resources of Urban Company?

    There are two main and most important resources of the Urban Company. The first is their official website. The second is their application, which is available for both Android and iOS.

    The resources are made with similar technologies. These help the company in lead generation, promotions, and knowing the customers better.

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    Conclusion

    The Urban Company has created a huge name for itself in the market. It made this possible because of its simple yet effective planning. The company did not make a complex business model for itself in the beginning, and it intends to keep it that way only.

    This model helps to bring in cleaners, yoga trainers, educators, electricians, and many more. One can do all this from the comfort of one’s home with one’s smartphone.

    The Urban Company’s business model aims to make the connectivity between customers and service providers faster and more efficient.

    FAQs

    What is Urban Company?

    Urban Company is an Indian-based technology company that operates a platform connecting customers with a wide range of home services and skilled professionals. Founded in 2014, it offers services such as beauty and wellness, home cleaning, repairs and maintenance, fitness, tutoring, and more.

    What is the business model of Urban Company?

    Urban Company connects users or service seekers to service providers for daily services. The service list includes beauty, grooming, cleaning, repairs, home educators, fitness trainers, and many more.

    What is the revenue model of Urban Company?

    Urban Company’s revenue model comprises four key methods for generating income, which are from commissions, lead generation, reverse auction, and ads or commercials.

    How Urban Company works?

    Urban Company offers a platform that connects skilled and experienced professionals with users seeking specific services.

    How to get an Urban Company franchise?

    Urban Company doesn’t follow a traditional franchise model where individuals own and run physical stores. Instead, it operates a platform-based model where independent service professionals—like beauticians, cleaners, and plumbers—register on the app and offer their services directly to customers through the platform.

    What is the business of Urban Company?

    Urban Company is an online marketplace for home services where customers can book beauty, cleaning, repair, and maintenance professionals through its app/website.

    What is Urban Company owner name?

    Urban Company was founded by Abhiraj Singh Bhal, Varun Khaitan, and Raghav Chandra.

    Urban Company is from which country?

    Urban Company is based in India, with its headquarters in Gurugram (Haryana), India.

  • 9 IPOs Opening This Week: GMP Ranges from 0% to 107% – Full List of Issues

    Nine initial public offerings (IPOs) will be available for subscription on mainboard and SME platforms this week, making it a busy week for primary markets. Investor interest is booming, ranging from well-known brands like Urban Company to specialised firms in engineering, metallurgy, and retail. Some issues have a great hunger among GMPs, while others have not yet gained traction. Here is the quick look at the upcoming IPOs.

    Airfloa Rail Technology Ltd. IPO

    The subscription period for the Airfloa Rail Technology IPO begins on September 11, 2025, and ends on September 15, 2025. On September 16, 2025, the allocation for the Airfloa Rail Technology IPO is anticipated to be finalised. The proposed listing date for Airfloa Rail Technology’s initial public offering (IPO) is set for September 18, 2025, on the BSE SME. The pricing range for Airfloa Rail Technology’s first public offering is INR 133.00 to INR 140.00 per share. An application’s lot size is 1,000. Based on the highest price, a retail individual investor must invest a minimum of INR 2,80,000.00 (2,000 shares). HNI requires a minimum investment of INR 4,20,000, or three lots (3,000 shares).

    Shringar House of Mangalsutra

    The subscription period for the Shringar House of Mangalsutra IPO begins on September 10, 2025, and ends on September 12, 2025. On September 15, 2025, the allocation for the Shringar House of Mangalsutra IPO is anticipated to be finalised. The proposed listing date for the Shringar House of Mangalsutra IPO is set for September 17, 2025, and it will be listed on the BSE and NSE. The pricing range for the Shringar House of Mangalsutra initial public offering is INR 155.00 to INR 165.00 per share. An application’s lot size is 90. Based on the highest price, a retail investor must invest a minimum of INR 14,850 (90 shares).

    Dev Accelerator

    The subscription period for the Dev Accelerator IPO begins on September 10, 2025, and ends on September 12, 2025. On September 15, 2025, the Dev Accelerator IPO allocation is anticipated to be finalised. The tentative listing date for the Dev Accelerator IPO is set for September 17, 2025, and it will be listed on the BSE and NSE. The pricing range for the Dev Accelerator IPO is INR 56.00 to INR 61.00 per share. An application’s lot size is 235. Based on the highest price, a retail investor must invest a minimum of INR 14,335 (235 shares).

    Jay Ambe Supermarkets

    The proposed listing date for the Ambe Supermarkets IPO is set for September 17, 2025, on the BSE SME. The price range for Jay Ambe Supermarkets’ IPO is INR 74.00 to INR 78.00 per share. An application’s lot size is 1,600. Based on the highest price, a retail individual investor must invest a minimum of INR 2,49,600.00 (3,200 shares).

    The Urban Company

    On September 15, 2025, the allocation for the Urban Company IPO is anticipated to be finalised. The proposed listing date for the Urban Company IPO is set for September 17, 2025, and it will be listed on the BSE and NSE. The price range for Urban Company’s IPO is INR 98.00 to INR 103.00 per share. An application’s lot size is 145. Based on the highest price, a retail investor must invest a minimum of INR 14,935 (145 shares).

    Taurian MPS

    The subscription period for the Taurian MPS IPO begins on September 9, 2025, and ends on September 11, 2025. On September 12, 2025, the allocation for the Taurian MPS IPO is anticipated to be finalised. The proposed listing date for the Taurian MPS IPO is set for September 16, 2025, on the NSE SME. The pricing range for the Taurian MPS IPO is INR 162.00 to INR 171.00 per share. An application’s lot size is 800. Based on the highest price, a retail individual investor must invest a minimum of INR 2,73,600.00 (1,600 shares).

    Karbonsteel Engineering

    The Karbonsteel Engineering initial public offering (IPO) will go live on September 9, 2025, and end on September 11, 2025. On September 12, 2025, the Karbonsteel Engineering IPO allocation is anticipated to be finalised. The proposed listing date for the Karbonsteel Engineering IPO is set for September 16, 2025, on the BSE SME. The price range for Karbonsteel Engineering’s IPO is INR 151.00 to INR 159.00 per share. An application’s lot size is 800. Based on the highest price, a retail individual investor must invest a minimum of INR 2,54,400.00 (1,600 shares).

    Nilachal Carbo Metalicks

    The Nilachal Carbo Metalicks initial public offering (IPO) will go live on September 8, 2025, and end on September 11, 2025. On September 12, 2025, the allocation for the Nilachal Carbo Metalicks IPO is anticipated to be finalised. The IPO of Nilachal Carbo Metalicks is scheduled to go public on the BSE SME on September 16, 2025. The IPO price of Nilachal Carbo Metalicks is INR 85.00 per share. An application’s lot size is 1,600. Based on the highest price, a retail individual investor must invest a minimum of INR 2,72,000.00 (3,200 shares).

  • Urban Company IPO Opens on September 10: Price Band, Dates, GMP, and Key Investor Details

    The promoters of Urban Company and notable investors like Accel India, Elevation Capital, Bessemer India, VY Capital, and Tiger Global have seen a significant increase in the value of their holdings since the company revealed that the price range for its next public offering would be INR 98–103 per share. Opening on 10 September and closing on 12 September, the IPO aims to raise around INR 1,900 crore.

    Promoter and Investor Gains

    Around 9.77 crore shares, purchased at minimal cost, are held by promoters Abhiraj Singh Bhal, Chairperson, Managing Director, and Chief Executive Officer; Raghav Chandra, Executive Director, and Chief Technology and Product Officer; and Varun Khaitan, Executive Director, and Chief Operating Officer. Their respective holdings are now worth little more than INR 1,000 crore apiece, a more than 10,000-fold increase in value.

    Private Equity Investors to Reap Gains

    Accel India IV, which holds 14.52 lakh shares that were bought at an average price of INR 3.77, has seen the value of its holding increase from INR 55 crore to approximately INR 1,500 crore, a huge gain of more than 26 times. Private equity investors are also expected to make significant returns.

    With 9.47 crore shares purchased at INR 7.14, Bessemer India Capital Holdings has increased its investment by approximately 13 times, from INR 68 crore to INR 976 crore. Formerly SAIF Partners, Elevation Capital now owns 15.9 crore shares that were purchased at INR 5.39, increasing in value by roughly 18 times from INR 85.7 crore to INR 1,638 crore.

    The value of the stake has increased by 67%, from INR 375 crore to Rs 627 crore, after Internet Fund bought 6.08 crore shares at INR 61.65. With 13.46 lakh shares purchased at INR 20.40, VYC11 has seen a 400% increase in value, going from INR 275 crore to INR 1,386 crore.

    Urban Company’s Business Model & Expansion

    The largest tech-enabled home services marketplace in India was established in 2014 and is based in Gurugram. It operates in 51 locations around India, the United Arab Emirates, and Singapore.

    Cleaning, pest control, plumbing, electrical work, beauty and wellness services, and appliance repair are all included in Urban Company’s repertoire. Under its “Native” brand, the company has expanded into residential solutions during the last two years, launching items like electronic door locks and water purifiers.

    The IPO’s proceeds will be used for marketing costs, office lease payments, cloud and technology infrastructure, and other general business needs. In the quarter that ended in June 2025, Urban Company reported a net profit of INR 6.9 crore, which was 45% less than the INR 12.6 crore it made in the same quarter the previous year.

    A joint venture loss of INR 8.6 crore, poor operating metrics, and increased expenses were the causes of the decline. EBITDA loss increased to INR 4.8 crore from INR 3.36 crore, while revenue increased 30.8% year over year to INR 367.3 crore from INR 280.9 crore.


    Quick Shots

    •IPO
    seeks to raise around INR 1,900 crore.

    •Each
    founder’s stake now worth over INR 1,000 crore, marking a 10,000x+ gain.

    •IPO
    proceeds to be used for marketing, office leases, cloud infrastructure, and
    general expenses.

    •Q1
    FY26 results: Net profit down 45% YoY to INR 6.9 crore due to JV losses, weak
    metrics & higher costs; revenue up 30.8% YoY to INR 367.3 crore.

     

     

  • Urban Company Begins Shutting Down Saudi Subsidiary as Losses Mount

    According to its draft red herring prospectus (DRHP), PO-bound consumer services startup Urban Company has started to wind down its step-down subsidiary in Saudi Arabia since it was unable to turn a profit.

    The startup in consumer services announced that it has begun moving its operations in Saudi Arabia to a joint venture that was established in 2024 with the goal of eventually closing the step-down subsidiary, Urban Company Arabia for Information Technology. Urban Company Arabia, which was incorporated in 2021, had a 182% increase in its pre-tax loss from INR 8.3 Cr to INR 23.4 Cr in the nine months ending December 31, 2024 (9M FY25).

    For FY24, FY23, and FY22, its pre-tax loss was INR 14.1 Cr, 17.7 Cr, and 10.1 Cr, respectively. Through Urban Home Experts, the startup acquired a 100% indirect investment in Urban Company Arabia, an online marketplace that enables users to look for and hire service providers for their business and home needs.

    According to the DRHP, the Group has begun operations through Waed Khadmat Al-Munzal For Marketing, a joint venture company based in the Kingdom of Saudi Arabia, as of January 1, 2025. The goal of this venture was to eventually shut down Urban Company Arabia for Information Technology, a step-down subsidiary.

    Shortage of Service Professionals

    Urban Company added that during FY25, FY24, FY23, and FY22, it encountered shortages of service professionals in its international markets, including the United Arab Emirates, Saudi Arabia, and Singapore, and that supply constraints might persist in the future.

    “There is no assurance that we will not face any supply shortages or that we will be able to find alternatives, which could have a material adverse effect on our business, results of operations, and financial condition,” the statement stated, even though the supply shortage has not yet had a negative impact on its business operations.

     Urban Company, a tech-enabled, full-stack online marketplace platform that allows consumers to hire professionals for domestic services, was founded in 2014 by Abhiraj Singh Bhal, Varun Khaitan, and Raghav Chandra. In order to raise INR 1,900 Cr through an initial public offering (IPO), it submitted its draft red herring prospectus (DRHP) to SEBI last month.

     The IPO would include an offer-for-sale component of INR 1,471 Cr and a new issue of shares valued at INR 429 Cr. In the OFS, current investor Accel India will sell shares of Urban Company for INR 433 Cr, and Bessemer India Capital Holdings II Ltd would sell shares for INR 173 Cr. Elevation Capital and VY Capital are among the other investors taking part in the OFS.

    Founders will not Participate in OFS Round

    Between September 2024 and February 2025, the founders of Urban Company sold shares for INR 779 Cr in secondary transactions prior to the IPO.

    They are not going to take part in the OFS round. From a deficit of INR 57.8 Cr in the same period last year, the consumer services unicorn posted a profit before tax of INR 27.1 Cr in the 9M FY25.

    From INR 600.9 Cr in 9M FY24 to INR 846 Cr during the period under review, operating revenue increased 41%. By doing this, Urban Company has joined a number of other cutting-edge software firms that have announced plans for massive initial public offerings.

     Additionally, startups like Physics Wallah, boAt, and Smartworks have submitted draft IPO documents to SEBI. The market’s watchdog approved BlueStone and Aye Finance’s initial public offerings (IPOs) last month.

  • Urban Company Files DRHP for INR 1,900 Crore IPO, Stake Sale by Accel, Elevation, and Tiger Global

    Urban Company, a leading on-demand services platform, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) valued at up to INR 1,900 crore. The IPO is a mix of a primary issuance and an offer-for-sale (OFS) by existing investors, aimed at boosting the company’s growth and technological capabilities.

    Structure of the IPO

    Urban Company’s IPO will comprise two components: a fresh issue of shares worth INR 429 crore and an offer-for-sale (OFS) of INR 1,471 crore. The initial approval from the company’s board was for a fresh issue size of INR 528 crore, but the DRHP indicates a reduction to INR 429 crore. This will be used primarily for technology development, including cloud infrastructure, as well as marketing and operational expenses.

    Key Shareholders and Ownership Breakdown

    As per the details in the DRHP, Elevation Capital holds the largest share of 10.84% in Urban Company, making it the biggest external stakeholder. Following closely are Accel India with 10.5% and VY Capital, which owns 9.18%. Other notable investors include Steadview and Prosus, each possessing 6.80% of the company. Additionally, Bessemer India and Tiger Global own 6.46% and 4.73%, respectively. The company’s co-founders, Abhiraj Singh Bhal, Varun Khaitan, and Raghav Chandra, together own 20.01% of the company, with their stakes equally distributed among them.

    Offer-for-Sale (OFS) Component

    The offer-for-sale component will see several major investors offload shares:

    • Accel India plans to sell shares worth INR 433 crore.
    • Elevation Capital will offer shares worth INR 346 crore.
    • Tiger Global (via Internet Fund V) is set to offload INR 303 crore worth of shares.
    • Bessemer India and VY Capital will also participate, selling shares valued at INR 173 crore and INR 216 crore, respectively.

    Financial Growth and Future Plans

    Urban Company has demonstrated strong financial performance. For the financial year ending March 2024, the company reported a revenue of INR 828 crore, marking a 30% growth from INR 636.5 crore in the previous fiscal year. In terms of profitability, the company successfully narrowed its losses to INR 93 crore from a more substantial loss of INR 312.4 crore in FY23, reflecting its ongoing efforts to improve operational efficiency.

    The company plans to allocate the IPO proceeds towards developing its technological infrastructure and enhancing its digital capabilities. Also, some funds will be used for expanding marketing efforts and covering overhead costs, including expenses related to office space.

    Company Background and Market Position

    Urban Company was founded nearly a decade ago by Abhiraj Bhal, Raghav Chandra, and Varun Khaitan. Since its inception, the company has grown to become a leader in the on-demand services industry, offering a variety of services such as beauty treatments, appliance repairs, plumbing, and cleaning.

    Lead Managers and Investor Expectations

    The lead bookrunning managers for the IPO include Kotak Mahindra Capital, Morgan Stanley India, Goldman Sachs, and JM Financial. With a strong track record and expanding market demand, Urban Company’s IPO is expected to generate significant interest from investors, looking to tap into the fast-growing home services market.

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  • Urban Company Slashes IPO Size by Over 80%, Gets Shareholder Approval for INR 528 Crore Offering

    According to documents filed with the Registrar of Companies (RoC), the board of directors of home services startup Urban Company has approved the company’s plan to raise INR 528 crore (about $60 million) in new capital through an initial public offering (IPO). In order to provide stockholders with a legitimate marketplace for dealing with equity shares, the company plans to list its equity shares on one or more stock exchanges. Up to a total of INR 528 crore ($60.6 million), the business plans to establish, offer, issue, and distribute new equity shares with a face value of INR 1 each. Initially, the Accel-backed business intended to submit draft documents for a possible INR 3,000-crore IPO this year. Its goal size is now more than 80% smaller, nonetheless. The IPO size has reportedly been drastically reduced as a result of the unstable market.

    Entering the Quick Commerce Space  

    According to reports, the company has chosen Morgan Stanley, Goldman Sachs, and Kotak Mahindra Capital to oversee the public offering. In the near future, the business is anticipated to submit its draft red herring prospectus (DRHP) to market watchdog SEBI. The preparations for Urban Company’s listing follow the startup’s entry into India’s quickly expanding quick commerce industry. In order to explore this space, the brand has introduced its new product, Insta Maids, a 15-minute maid booking service. This comprises hourly-paid maids performing tasks like culinary preparation, brooming and mopping, and utensil cleaning.

    Urban Company’s Market Performance

    According to statistics from the market intelligence platform Tracxn, Urban Company has raised up to $376 million in funding over the course of 12 rounds and was last valued at $2.5 billion. In 2021, the business raised $255 million in its most recent significant fundraising round. This round was headed by investors Wellington Management, Prosus, and Dragoneer. In addition to activities in international markets like Singapore and Saudi Arabia, the marketplace for home services and beauty salons is present in more than 30 Indian cities. With an average order value of INR 1,290, the platform, which links gig workers with home services, processes 2.2 million orders every month on average. According to Urban Company, 23 million services were delivered on the platform in FY24 by 57,000 partners. Up to 13 firms went public in 2024, propelled by India’s thriving public marketplaces. With over 25 firms waiting to go public this year, this number was predicted to rise sharply in 2025. However, many of these businesses may be forced to reconsider their listing ambitions due to the unstable market conditions brought on by the US trade war.

  • Abhiraj Bhal: The Visionary Leader Behind Urban Company’s Global Success

    Abhiraj Bhal is the co-founder and CEO of Urban Company (formerly known as UrbanClap). He is known to be the real transformational force that has swept through the Indian startup ecosystem. With his innate passion for solving real-world problems and commitment to customer satisfaction, Abhiraj has succeeded in developing a platform that is changing the way home services are being delivered inside India and beyond. Under his leadership, Urban Company has emerged as a household trusted name for availing beauty, wellness services and even home repairs.

    Abhiraj’s entrepreneurial journey has been very interesting – by utilizing technology, and finding gaps in the market, he came up with solutions that empower not only the consumers but also the service professionals that form the backbone of his company. His vision does not rest on better business growth but on creating a sustainable economy in which the service professionals are skilled, respected, and financially secure.

    What makes Abhiraj different from other entrepreneurs is that he can merge innovation with empathy, making sure the company remains not just successful but socially responsible. He positioned Urban Company as a global market leader in home services with international expansions, well-rounded funding, and a relentless focus on ensuring quality.

    In this StartupTalky article, we will explore Abhiraj Bhal’s success story, including his early life, history, net worth, childhood, personal life, education, achievements, and more.

    Abhiraj Bhal – Biography

    Full Name Abhiraj Singh Bhal
    Birthplace Patna, Bihar, India
    Nationality: Indian
    Education Bachelor’s degree in Mechanical Engineering, Indian Institute of Technology (IIT) Kanpur
    Master’s in Business Administration, Indian Institute of Management (IIM) Ahmedabad
    Occupation Entrepreneur
    Co-Founder and CEO of Urban Company
    Hobbies Traveling, Reading, Mentoring Startups

    Abhiraj Bhal – Early Life and Education
    Abhiraj Bhal – Personal Life
    Abhiraj Bhal – Career Highlights
    Abhiraj Bhal – Awards and Recognition
    Abhiraj Bhal – Philanthropy
    Abhiraj Bhal – Controversy
    Abhiraj Bhal – Facts

    Abhiraj Bhal – Early Life and Education

    Abhiraj Bhal was born in Patna, Bihar, and raised in an academically oriented family that harped on the virtues of hard work and discipline. Abhiraj had shown great curiosity from a tender age and had a great interest in solving problems.

    After school, he went to IIT Kanpur for Mechanical Engineering. Here Abhiraj not only excelled in education but also took part in extra-curricular activities that helped build his leadership and collaborative skills. He later did his MBA from IIM Ahmedabad, one of the finest business schools in the country that helped cultivate his interest in entrepreneurship and the changing on-ground dynamics with technology that was gaining considerable momentum during this period at IIM.

    Abhiraj Bhal – Personal Life

    Abhiraj Bhal keeps his personal life very far away from the limelight. He is married and likes spending time with family when not working. He loves traveling and is a voracious reader, drawing inspiration mostly from entrepreneurs around the world and success stories.

    In addition, Abhiraj takes a keen interest in mentoring young startups, and offering guidance and support to budding entrepreneurs. His grounded nature and commitment to social change make him a respected figure in the startup ecosystem.

    Abhiraj Bhal – Career Highlights

    After passing out from IIM Ahmedabad in 2011, Abhiraj worked for The Boston Consulting Group global management consulting firm. During three years at BCG – he gained immense knowledge of problem-solving and strategy development by understanding consumer behavior across industries. His time at BCG acquainted him with the problems of the unorganized sectors in India; therefore, this led to the conceptualization of inefficiency in-home services.

    In 2014, the trio of Abhiraj Bhal, Raghav Chandra, and Varun Khaitan started UrbanClap (now Urban Company) in Gurugram, Haryana. This service was an endeavor to connect consumers with certified professionals providing home service by bridging inefficiencies that are otherwise scattered within the disorganized sector.

    The early version of UrbanClap focused on services related to beautification, repairing appliances, and cleaning. They envisioned a marketplace that empowers service professionals and assures seamless, high-quality services for customers.

    UrbanClap rebranded itself as Urban Company in 2020, marking the beginning of its journey to transition into an all-inclusive platform offering various home services on one portal. The categories it deals with include deep cleaning, pest control, fitness training, and home repairs for individuals and corporations. 

    Abhiraj-led expansion plans have seen Urban Company moving internationally into Australia, Singapore, the UAE, and Saudi Arabia. He has set the benchmark for home services platforms that can be successful globally yet maintain a localized approach. Success in other international markets is testimony to Abhiraj’s ability to adapt a business model to address diverse cultural and market needs.

    A key aspect of Abhiraj’s vision for Urban Company has been empowering the service professionals on the platform. From providing training programs and financial benefits to offering health insurance and other social security initiatives, Urban Company has redefined the gig economy in India. The company ensures fair earnings, skill development, and job satisfaction for thousands of service partners.

    So far, Urban Company has raised over $500 million from marquee investors such as Tiger Global, Prosus Ventures, and Elevation Capital for a valuation of over $2 billion, led by Abhiraj. The funds have been deployed for scaling operations, technological advancement, and expanding the platform’s reach.

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    Abhiraj Bhal – Awards and Recognition

    Abhiraj Bhal and Raghav Chandra - GQ50 Most Influential Young Indians
    Abhiraj Bhal and Raghav Chandra – GQ50 Most Influential Young Indians

    The contribution of Abhiraj Bhal to the transformation of home services is highly appreciated and included in such listings as:

    • Forbes Asia 30 Under 30, 2017: Abhiraj was featured for his entrepreneurial contribution and innovation in building an Urban Company.
    • GQ50 Most Influential Young Indians – 2017
    • Business Today India’s Coolest Start-Up: Recognized as one of the most innovative and impactful startups in India, 2018.
    • Economic Times Start-Up Awards, 2019: Abhiraj was conferred the “Start-Up Leader of the Year” for taking Urban Company to new heights.
    • Fortune India 40 Under 40, 2020: Abhiraj secured a place in the most populous list of achievers for changing the way home services function.
    • Startup India Awards: Abhiraj and Urban Company were recognized for the novelty of their solutions and their contribution to the gig economy.

    Abhiraj Bhal – Philanthropy

    Abhiraj Bhal is committed to a positive social impact through his work. His initiatives are targeted at empowering service professionals, improving their livelihoods, and giving them financial security.

    • Urban Company has complete training programs for service professionals at the platform, which helps in enhancing their skills and capacities to render quality services. It will help increase customer satisfaction and also improve the confidence of service professionals.
    • Abhiraj has introduced several measures to improve the financial stability of service providers. These include offering insurance coverage, loans, and savings plans, ensuring that the gig workers on the platform feel secure and valued.
    • Urban Company has taken concrete steps to include more women in the workforce, especially in categories such as beauty and wellness.
    • He also launched its eco-friendly drive by bringing on board eco-friendly cleaning agents, coupled with the adoption of greenways amongst its service providers.

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    Abhiraj Bhal – Controversy

    Urban Company co-founder and chief executive Abhiraj Bhal also made headlines several times during his tenure.

    • Accidental E-mail Response (2018): In May 2018, Bhal accidentally sent an e-mail meant for internal staff to customer Rakesh Verma, who had complained about poor repair services relating to air conditioners. In the email, Bhal wrote, “Please ignore him completely. No one should answer his queries.” This incident gained attention on Reddit, where users criticized Bhal’s response and shared negative experiences related to UrbanClap’s customer service and internal culture.
    • Gig Worker Protests (2023-2024): Urban Company faced protests from its service partners, particularly in the beauty segment, over policies such as ID blocking due to low customer ratings and the ‘auto assign’ feature. Workers claimed these policies led to job insecurity and challenging working conditions. In response, Bhal defended the company’s policies, stating that the average service partner rating was around 4.83 out of 5 and that local politicians and unions were exploiting these disagreements to pressure the company.

    Abhiraj Bhal – Facts

    Here are some interesting facts about Abhiraj Bhal: 

    • Abhiraj is an alumnus of IIT Kanpur and IIM Ahmedabad
    • He had worked for The Boston Consulting Group before founding Urban Company
    • He has revolutionized the gig economy through Urban Company, giving financial security and skill-building opportunities to thousands of professionals in the country.
    • Abhiraj has been able to take Urban Company to international markets, which means that its business model is scalable.
    • He insists on a very strict quality control process for the onboarding of professionals on the platform.
    • Abhiraj’s leadership has been characterized by an unstinting effort towards customer satisfaction and experience.
    • He is a firm believer in the transformative power of technology to solve real-world challenges.

    FAQs

    Who is Abhiraj Bhal?

    Abhiraj Bhal is the co-founder and CEO of Urban Company, a platform that connects customers with home service professionals like cleaners, beauticians, and technicians.

    What is Abhiraj Bhal education?

    Abhiraj Bhal studied Mechanical Engineering at IIT Kanpur and completed his MBA at IIM Ahmedabad.

    What is Abhiraj Bhal net worth?

    Abhiraj Bhal net worth as of 2024 is INR 2200 crore.

  • By the End of March, Urban Company Expected to Submit Draft Documents for an INR 3K Cr IPO

    According to reports, Urban Company, a startup providing hyperlocal services, plans to submit draft documents for its INR 3,000 Cr IPO by the end of March. According to a report that cited sources, the company will issue both new and existing shares in its first public offering (IPO). The business will primarily raise primary capital, it stated. The business has enlisted Morgan Stanley, Goldman Sachs, and Kotak Mahindra Capital to supervise the procedure. As stated in October of last year, Prosus, one of its investors, intends to increase its stake in the business in anticipation of its initial public offering. In a secondary transaction, Prosus wants to invest $30 million (about INR 252 crore) in the hyperlocal services company Urban Company, providing Bessemer Venture Partners with a partial exit.

    Raising INR 400 Cr Last Year      

    Through a secondary deal last July, Urban Company raised INR 400 Cr ($50 Mn) from Dharana Capital, a Bengaluru-based venture capital firm. Employees and other shareholders sold their shares of Urban Company as part of the deal. The fundraising event took place at the same time as Titan Capital, the venture capital (VC) firm that cofounded Snapdeal with Rohit Bansal and Kunal Bahl, completely left the startup. In October of last year, the company also established a joint venture (JV) with Saudi Manpower Solutions Company (SMASCO) to launch a new home services platform in Saudi Arabia.

    Current Financial Report of Urban Company

    In terms of finances, the business reduced its losses in the fiscal year 2023–2024 (FY24) by 70%. In the fiscal year 2023–2024 (FY24), Urban Company reported a loss before tax of INR 93 Cr, a 70% decrease from INR 312 Cr in the previous year. In FY24, the company’s operating EBITDA dropped to INR 116 Cr from INR 297 Cr in FY21. The current fiscal year (FY25) saw Urban Company generate INR 281 Cr in sales during the first quarter (Q1).

    In addition to activities in international markets like Singapore and Saudi Arabia, the brand is present in more than 30 Indian cities. According to Urban Company, 23 million services were delivered on the platform in FY24 by 57,000 partners. The company was founded in 2014 by Varun Khaitan, Abhiraj Singh Bhal, and Raghav Chandra. It is a technology-driven platform that links clients looking for home services with gig workers. Among other services, its offering includes cleaning, plumbing, appliance repair, and spa and beauty treatments. The company recently introduced a line of water purifiers as part of its diversification into branded household goods.

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  • Investment of $30 Million to Be Made by Prosus in Urban Company

    One of the biggest technology investors in the world, Prosus, is increasing its position in the home services platform Urban Company by almost double. The Netherlands-based investor wants to increase its holdings before the business goes public early next year.

    According to a media report, Prosus, which has funded some of the largest startups in the nation, including Swiggy, Meesho, and Eruditus, among others, will be investing roughly $30 million in an all-secondary transaction, providing Bessemer Venture Partners a partial exit. The deal will be closed at a fixed valuation of $2.6 billion. Note that secondary transactions usually occur at significantly lower valuations.

    Accel Partners and Elevation Capital

    Two of Urban Company’s initial investors, Accel Partners and Elevation Capital, sold a portion of their shareholding to Dharana Capital in July in an all-secondary deal valued at approximately INR 400 crore. The sources claim that while both companies were thinking about selling additional stakes, they have now shelved those plans and will wait for the company’s IPO the following year.

    Even the possibility that Steadview was considering a sale is unfounded, according to a media report. Only Bessemer is offering the biggest portion and minor secondaries for Elevation and Acceleration. The report went on to say that Urban Company is one of the few good assets and that Prosus has an opportunity to take full advantage of it by doubling down its investment, and watch its valuation rise at the IPO the next year.

    India’s Venture Capital Landscape

    Recent trends in India’s venture capital scene indicate that when their initial fund cycles are coming to an end, early-stage VCs are choosing to quit their portfolio businesses. In April, The CapTable published a detailed article about how venture capitalists (VCs) were seeking to sell their holdings in secondary transactions. 

    However, Prosus’ decision to raise its ownership in Urban Company follows a significant multi-hundred million-dollar profit from its investment in Swiggy, a rapid commerce and food delivery company getting ready for an IPO later this year. Despite suffering large losses on two of its largest Indian assets, Pharmeasy and Byju’s, Prosus is now focussing on growing its other purportedly profitable businesses. Prosus also wants to expand the scope of its holdings outside of tech ventures. Prosus made a $100 million investment in Vastu Housing Finance in September. It also planned to spend about $40 million on the jewellery platform Bluestone.

    The Urban Company was founded by Abhiraj Bhal, Raghav Chandra, and Varun Khaitan about ten years ago. It last received main funding in 2021 from a variety of investors, including Prosus, Steadview, Dragoneer, and Tiger Global Management. At the time, the corporation was worth $2.6 billion. It has started discussions about an IPO with a few investment institutions.

    Urban Company: Transforming Home Services Globally | Valuation | Founder | Funding
    Discover Urban Company, a leading platform revolutionizing home services with a dedicated workforce and global reach. Learn about Urban Company’s startup story, Founder, net worth, funding, and more.
    StartupTalkyShevaughn Pimenta