Instant home services startup Snabbit reported a net loss of Rs 167.75 crore on operating revenue of Rs 12.25 crore in FY26, highlighting the cost of scaling its on demand household help business in a fiercely competitive market.
The Bengaluru based startup, operated by Maestroedge Solutions Private Limited, recorded total expenses of Rs 194.76 crore in the financial year ended March 2026, up sharply from Rs 6.81 crore in FY25. Operating revenue, meanwhile, rose from just Rs 26.35 lakh in the previous financial year, according to financial statements filed with the Registrar of Companies (RoC).
Founder and CEO Aayush Agarwal said FY26 was the company’s first full year of operations and that it deliberately invested ahead of scale to build the category. He said Snabbit grew from around 500 jobs a day across eight micro markets at the start of the year to a run rate of 35,000 daily jobs across more than 100 micro markets by year end. The company also acquired nearly one million customers and onboarded over 20,000 service professionals, according to Agarwal.
- Where Snabbit’s Money Went
Service costs accounted for Rs 63.07 crore of FY26 expenses, while employee benefits stood at Rs 46.02 crore. Other expenses were the largest cost category at Rs 84.66 crore, with depreciation adding another Rs 1.02 crore.
Snabbit reported total income of Rs 27.01 crore, including Rs 14.77 crore in other income. This distinction matters: operating revenue was only Rs 12.25 crore, so the company’s reported total income should not be mistaken for revenue generated directly by its home services operations.
Agarwal said the company raised Rs 427.8 crore during FY26 and ended the year with around Rs 319 crore in cash and investments, no borrowings, and a net worth of Rs 312.4 crore. These figures are management-reported in response to media queries.
- $112 Million in Funding, but Profitability Remains the Test
Snabbit raised $56 million in a Series D round in April 2026, co-led by Susquehanna Venture Capital, Mirae Asset Venture Investments’ Unicorn Growth Fund and Bertelsmann India Investments. Nexus Venture Partners, Lightspeed and FJ Labs also participated, taking the company’s total funding to approximately $112 mn. Reports placed its valuation at around $350 mn to $400 mn.
The startup is competing with Urban Company’s Insta Help and Pronto, as players invest in customer acquisition, service provider availability and local market density. In July, Snabbit processed around 1.85 mn orders, compared with approximately 1.9 mn for Insta Help and more than 1.25 million for Pronto. The figures were based on industry sources and were not independently verified.
- Can Scale Translate Into Better Unit Economics?
Snabbit’s financials reflect the gap between building demand and building a sustainable business. Rapid growth in jobs and market coverage can improve service availability and utilisation, but it must eventually translate into stronger revenue per order and lower fulfilment and acquisition costs.
Agarwal said the company was seeing benefits from improving unit economics and increasing network density. The next milestone will be whether these gains show up in financial performance as the business matures.
For investors, the central question is not simply how quickly Snabbit can add customers or orders, but how efficiently it can serve them without relying indefinitely on fresh capital.
The Unicorn Magazine:- Editing by Dhiraj Shaw
