Highlights
Snabbit, an innovative app providing on-demand home services, has announced the appointment of Abhinav Ankur as Chief Business Officer (CBO). This strategic move aims to enhance Snabbit’s business growth as it establishes itself as a pioneering force and a frontrunner in a significant, untapped market segment.
Ankur brings a wealth of experience from consumer internet and logistics-driven platforms. He has successfully held leadership positions at companies like OYO and WheelsEye, where he focused on driving substantial business growth, expanding operational capabilities, and facilitating category advancement. His joining Snabbit comes at a pivotal moment as the company transitions from rapid initial adoption to structured market dominance.
The Home Services Market in India
According to market analysis, the home services sector in India is estimated to exceed $60 billion and is projected to grow at an impressive CAGR of 18-22% until FY30. Founded in 2024, Snabbit connects households with skilled professionals for various tasks, including cleaning, dishwashing, and laundry. Customers can conveniently book services by the hour, with service providers reaching their locations within 10 minutes.
Rising Competition in the Segment
This expanding segment is witnessing increasing competition from both established players and newcomers. Urban Company’s InstaHelp, which operates in a similar space, achieved over one million bookings in March and currently handles more than 50,000 bookings daily. In parallel, Snabbit has demonstrated its growth potential with one million orders recorded in March. Led by Aayush Agarwal, the company is reportedly preparing to raise between $50 and $60 million in an upcoming funding round. Furthermore, Pronto celebrated its first year of operation last month, reporting over 500,000 monthly fulfilled bookings, indicating robust early-stage growth.