Snabbit Enhances Quick Home Services Presence

Snabbit is entering the quick home services sector with a significant move by bringing on board the founding team of Pync as it aims to expand in India’s thriving market for rapid home services. This acquisition includes founders Harsh Prateek, Mayank S, and Dev Priyam, who will assume senior positions in operations and other business areas at Snabbit.

Pync’s Journey in the Quick Home Services Sector

Established in 2023, Pync initially started with car-cleaning subscriptions but soon shifted focus to quick house services, securing approximately $2 million in seed investment. Before ceasing operations, Pync was exclusively serving Bengaluru and had catered to over 25,000 households with a network of more than 1,000 service professionals.

Collaboration for Growth

According to Harsh Prateek, co-founder of Pync, both teams share comparable philosophies regarding operations and customer experience. This partnership aims to merge Pync’s agile practices with Snabbit’s extensive reach, facilitating accelerated growth in the market.

Funding and Competitive Landscape

This acquisition comes at a pivotal moment as Snabbit is also in discussions to secure a larger funding round estimated at about $100 million. Startup Superb had previously disclosed this development in October of the previous year. Snabbit has successfully garnered over $25 million in funding from notable investors such as Elevation Capital and Nexus Venture Partners.

Positioning Against Rivals

The combination of the acquihire and the anticipated funding round is expected to bolster Snabbit’s competitive stature in relation to its main competitor, Urban Company, which is currently listed on Indian stock markets. Snabbit also faces rivalry from Pronto, a startup focused on ten-minute house-help services, which has raised $11 million in a funding round co-led by General Catalyst and Glade Brook Capital.