On-demand home services startup, Timesaverz has raised over $2.2 Mn (INR 15 Cr.) in its Series A round of funding led by Ronnie Screwvala’s Unilazer Ventures.
Founded by Debadutta Upadhyaya and Lovnish Bhatia in April 2013, Timesaverz helps users hire locally-verified and curated service providers through the push of a button. The company has been extending its service portfolio over the past few months to a number of cities and now operates in 5 key metros, growing at 100% QoQ. As per the company, its services have been gaining traction on mobile at an unprecedented rate.
Mumbai-based company will be using the raised capital to support its expansion into new markets and services. Timesaverz sees itself as the Uber of home services creating availability and credible aggregation for the consumer, and value for money for the vendors.
Related Article: Funding Galore: Startup Fundings Of The Week [17 August-22 August]
- Receives one service request every 3 seconds
- Has 1000+ Timesaverz partner network across 5 key metros
- Witnessing a 3X growth in visitations
- Receives 80% of the traffic through mobile
Speaking about the investment, Ronnie Screwvala said, “On-demand home services comprise the new frontier of e-commerce where service is now a product. Large companies are going to be created in this space and we will work closely with the founders to make Timesaverz a leader in an existing 5 billion dollar industry with immense growth potential. Our decision to back the company was driven by the operational efficiency demonstrated by an experienced team and the social impact it has created among the unorganized but skilled service partners.”
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.