Urban Clap is a business model that connects service providers and service seekers. Urban Clap allows individuals to find skilled people to assist them in their daily tasks. These services include cleaning, cleaning, lawyers and engineers, and photographers.
Urban Clap, an online home service marketplace, saw an operating revenue of INR116 Cr in FY2019. It is almost 150% more than last year. Urban Clap saw a 225% increase in revenue for FY18, which is more than FY17.
Urban Clap reported a 103% increase in revenue to Rs216 Crores from 2019 to 2020 due to increased demand for its beauty and wellness vertical. Learn more about the UrbanClap Business Model. Please find out how they channel their money and make functions. So, let’s get started.
What is Urban Clap?
Urban Clap is also known as Urban Company. It is a marketplace for services that target the Indian market.
It has more than 300 employees and 65000 professionals. UrbanClap was started by Kanpur Varun Khaitan and Raghav Chandra in 2014. It is a sight to be profitable by 2019.
It is a leader in Asia for home services with offices in India, UAE, and Singapore. Urban Company, now known as Urban Company, is the nation’s fastest-growing start-up. It acts as an on-demand marketplace connecting service providers and seekers. It solves all your everyday problems. UrbanClap, an app that allows you to search for a beauty therapist, a plumber, or a yoga instructor, is the best way to locate them all.
It went live in 2014. It has fuelled the desire to change how service providers work and what they pay. One sector that has not seen transformations is home services. Urban Clap made it possible to connect with the best in their field. The team faces many challenges, but they are still overcoming them all.
The company was founded by just a few professionals in the beginning. Today, it employs around 50,000 professionals. Another 15,000 people are eager to join the growing community. Let’s see how this start-up has grown its business. Find out the secrets to Urban Clap’s success right here.
Urban Clap Figures and Facts: Discover Every Here!
Year Of Launch:2014
UrbanClap’s Founders: Varun Khaitan and Abhiraj Bhhal. Raghav Chandra.
Headquarters: Delhi, India
Live services at UrbanClap:107 Services
Urban Clap usage: 5+ Million by 2021
Monthly average transaction volume on the platform: 450,000
Offers services in5 cities and 49 countries
Number of service providers: 32,000+ providers
The average daily number of customer requests is between 200 and 250 requests per day.
The percentage for monthly UrbanClap return users:40%
Funding UrbanClap has received: $470 Million.
UrbanClap raised $255 Million in a funding round in April 2021 and is valued at $2.1 billion. It is one of more than a dozen Indian start-ups that have achieved unicorn status.
Prosus Ventures, Wellington Management, and Dragoneer led the Series F round. Steadview and Vy Capital also participated. The Gurgaon-headquartered home service company said the new round options a capital infusion of $188 million, whereas the remaining is a secondary sale by early investors and a few angels. By 2021, the start-up will have raised approximately $470 million.
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Urban Clap: Learn How the Company Works
UrbanClap is an online platform that connects people with jobs. It acts initially as a search engine and a tool for finding information. Today, however, the company uses a model that assists them. They list professionals, train them and connect them with users in real-time.
UrbanClap makes it easy for users to schedule regular services. It allows them to get more done more efficiently and systematically. You can download the app from both the iOS and Android app stores. Users need to select the services they want, then schedule them.
UrbanClap encourages local professionals to find them. UrbanClap is a platform that supports local professionals by eliminating intermediaries and allowing them direct access to clients. UrbanClap’s business model is primarily two-fold.
- Fixed-Price Services
- Services without any fixed charges
Urban Company, or UrbanClap, accepts funds from apps like Urbancalp, then charges the dues to the professionals hired like electricians and home maintenance specialists, plumbers, and others. The company charges no fees for the funds collected.
Services without Fixed Charges
UrbanClap pays professionals for lead generation and funding listing. It doesn’t charge customers directly for services that are not subject to fixed charges. To approve an order, the professionals must pay a fee. If they can convince customers to buy the services, monetizing is possible.
There are five choices available to users, and they must choose the most economical. Payable credit can be earned if the professional service profile isn’t shown. If the algorithm works, users will need to do less work.
Urban Clap: Workflow for Insight
On-demand services are the future of 21st-century technology. People can connect across long distances easily thanks to the internet and mobile technology. The pace of online services has increased due to the uncertainty caused by pandemics. A solid online presence can increase revenue for businesses. It has been a motivating factor for many to establish an online presence with innovative solutions.
Urban Clap is an excellent example of a successful on-demand marketplace for skilled workers. Urban Company generates impressive revenue, but professionals also get an incredible amount of their skills.
Effective business planning and management are key to success. The professional can be reached easily, and the service is available at their home. The service company can generate revenue in many ways. UrbanClap’s business model is based on:
Service Receiver End
- Urban Clap is an app that allows users to quickly browse through a list of services and select the best one.
- Urban Clap’s business model allows users to choose the service they want. They can select the package from all the options. The budget of the user can be used to choose the service provider.
- After selecting the package, the user can choose the time and date for the appointment.
- UrbanClap is a similar platform that allows users to verify the service provider by looking at their qualifications. Visit the profiles of visitors to verify their presence.
- Payments can be made using COD or any other payment gateway supported by the platform.
- Users rate and review the services.
Service Provider End
- UrbanClap, an app similar to it, has two functions. One for a service provider, one for customers.
- The professionals in the area receive a notification when a user requests a service. They can accept or reject the request.
- UrbanClap’s business model was designed so that experts and skilled persons can analyze work commitments. They can then choose to accept or deny the request accordingly.
- When the request is accepted, the provider and the users receive notifications to confirm the booking.
- Emergency personnel who return to work are charged if they do not comply with the orders.
Urban Clap Revenue Model – Discover How UrbanClap Makes Money
UrbanClap employs a four-way strategy to make money. There are two categories of options: one is the fixed pricing service accounts, and the other is the booking section. The other is the non-booking variable pricing and non-booking pricing. The brand uses different strategies to bring capital to the market.
UrbanClap is a platform similar to UrbanClap that generates revenue primarily from commissions. It charges brand owners around 85% of the total service price in commission-based processes.
The company also offers reliable and speedy service to all customers. Each serviceman will be paid a commission depending on his job. They are paid more for home services if they do more work.
UrbanClap supports the charging of the specialist for listing the second group or lead generation. The customer does not have to book the service through this method. A fee must be paid for the specialist’s time in educating the customer about the operation and helping to approve the request.
The skills of the specialist determine monetization. It allows customers to book their services easily. UrbanClap connects users with experts who may vote for their evaluation. If a professional profile is not submitted, credit is paid back. The matchmaking algorithm is critical. The algorithm is more efficient, which means customers will do less work.
The best way to generate income is through lead generation. UrbanClap’s primary source of revenue is commission charging. Customers can define their lead generation needs; clients can contact the experts. The client can also contact experts. UrbanClap charges for lead generation by professionals and servicemen.
Advertising is one of the most efficient ways to make money. UrbanClap is an app that allows service providers and suppliers to post their advertisements in exchange for a percentage of the company’s advertising fees.
Home Service Application Development Is a requirement of the Hour: Isn’t it?
Urban Company’s business model is designed to make it easier, quicker, and more efficient for users to meet their needs. Both service providers and customers can choose the best package before they book an appointment.
Reverse auctions and commissions are the company’s primary sources of revenue. It is easier to provide security services to meet their needs with a mobility solution like UrbanClap.
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