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On-demand home services startup, Zimmber, has acquired Gurgaon-based FindYahan for an undisclosed amount, in a cash and stock deal, confirms founder Rachit Mathur.
“This is the right time to shift gears, and the strategy is to expand into other services. The blue-collar market that we cater to, is a tough one to crack, while white-collar service providers, such as FindYahan, know how to manage customers well, while at the same time, scale quickly,” said Amit Kumar, co-founder, Zimmber.
The deal comes in at a time when Zimmber is rumored to be raising funding from Snapdeal.
Post acquisition FindYahan’s core team of 5, and its two founders – Rachit Mathur and Snehil Khanor will join Zimmber. Rachit will join the growth and revenue initiatives team and Snehil will be part of product team.
“We are very excited to be a part of Zimmber and together take on the on-demand service market. We shared a common vision with the founders and see a lot of value being created in working together ” Rachit Mathur – founder at FindYahan. According to Kumar, the FindYahan brand will be kept operational at the moment.
Findyahan, founded in 2013, has about 700 service providers on its platform and counts people like Karan Bajwa, managing director of Microsoft India, Amanpreet Bajaj – India Head Airbnb.com, Sunjay Kapur, managing director of Sona Koyo Steering Systems among its backers. Brand Capital, an investment arm of Bennett Coleman & Co, the publisher of this newspaper and Phoenix Fund are also investor in the startup. Hitesh Dhingra of LetsBuy, Rajatish Mukherjee, SVP, Godaddy are in the advisory board of FindYahan.
This is Zimmber’s second acquisition. In 2015, it acquired Mumbai-based laundry service Dhulai. Founded in 2014 by Anubhab Goel, Gaurav Shrivastava and Amit Kumar, Zimmber, had raised $2 Mn from IDG ventures, Omidyar Network, Sherpalo Ventures and TV Mohandas Pai in July last year. Prior to that, it had raised $400K from Naveen Tewari and others.
Unlike Zimmber, FindYahan, primarily serves consumers looking for white collar services, such as yoga teachers, tuition teachers, language tutors and kitchen services, among others. Zimmber currently operates in the Delhi-National Capital Region, Mumbai and Pune, has about 1,000 service providers.
The acquisition is yet another example of the ongoing consolidations in the Indian tech startup scene. Earlier this month, Bangalore-based Housejoy, an on-demand service provider, acquired online laundry services player MyWash, for an undisclosed amount. Urbanpro and Localoye are other startups in this space. Recently, Quikr also entered hyperlocal services space with launch of Quikrservices.
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