Home services marketplace UrbanClap has raised Rs.20 Crore of debt funding from California-Based Trifecta Capital through Non-Convertible Debentures.
The startup also allotted equity through some compulsory convertible preference shares to Trifecta for Rs 2 crore, according to the company’s filings with the Registrar of Companies.
Previously, UrbanClap raised an undisclosed amount funding from Ratan TATA in December 2015. The total equity funding from UrbanClap is about $36.6 Millions. The startup investors base include SAIF Capitals, Rohit Bhansal, Accel Partners, Bessemer Venture Capital and others.
UrbanClap was founded by Varun Khaitan, Raghav Chandra and Abhiraj Bhal in October 2014. It is a home services marketplace for providing services like photographers, electricians, home cleaning professionals, yoga & guitar instructors, etc.
It is currently operational in eight cities – Ahmedabad, Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai, and Pune. UrbanClap directly competes with other startups such as Housejoy and QuikrServices.
Trifecta Capital is an early stage technology fund that invests in the best start-ups. Current portfolio companies include Equipment Share, Second Spectrum, Moltin and others. Trifecta Capital is a top quartile Silicon Valley-based seed fund. The venture capitalist is industry agnostic and look to support companies starting at seed stage but continue our support until IPO.