Exclusive: Investors Love For Services Marketplace Is Here To Stay; FindYahan Grabs Funding From The Phoenix Fund




Exclusive: Investors Love For Services Marketplace Is Here To Stay; FindYahan Grabs Funding From The Phoenix Fund

Research shows that over 1200 Cr. Searches are being carried out on day by day foundation by way of the people looking for service providers and over 6 Lakh provider vendors are being contacted everyday. But as an character seeking out a service issuer its now not that clean to reach out the provider issuer which they may be actually searching out. Though the systems like JustDial, or Sulekha have attempted to resolve this trouble to an increase, but whilst studying/using those platform, the individual has to proportion contact info and later he/she is spammed with undesirable calls for a number of days.

This is in which the concept of hyperlocal offerings marketplace is available in. This precise section has commenced gaining a lot of interest in beyond few weeks. Just closing week, there have been lower back to lower back bulletins approximately funding of startups which might be operating on this area. Today, yet another startup has disclosed that it simply got funding.

Delhi-primarily based, FindYahan, a hyperlocal offerings market, that has created a platform that connects skilled people and domestic organizations to their target clients without difficulty and effectively has raised its Pre Series A of investment from The Phoenix Fund, as told through Snehil Khanor, founder of FindYahan.

Launched again in October 2013 with the aid of Rachit Mathur & Snehil Khanor, and FindYahan, presently is operational in Delhi/NCR and has over 1,00,000 customers, over four,000 resources.  The startup has released a mobile app in February this 12 months and has recently crossed 50,000+ downloads at the Google Play Store.

The FindYahan App has a easy and intuitive Request Submission Process where a consumer can ask some short questions about the provider he/she is looking for and the price range he's comfy with.

Then the lead is shared to the carrier companies with out the touch statistics of the purchaser. Only the ones service vendors purchase the lead and are able to contact who realize they are able to fulfil the exact requirement at a designated vicinity and inside the budget. Thus one don’t get spammed with un-essential calls.

Another particular feature of our app is the messaging module, one can selected now not to get any calls at all and might pick out to have a textual content chat with the service providers. In our next version, the startup is likewise arising with trial reserving & appointment reserving characteristic.

Also Read:- DIGITAL SERVICE: FINEST BUSINESS IDEA FOR YOUNG ENTREPRENEURS

“But what really makes us distinctive from others is the great of our service providers. Think of it as we're constructing a mall with simplest the great shops. There perhaps 10 department stores in a locality.. But after 6 months which mall will you pick out to visit? The one with maximum stores or the only with the best ones?,” stated Snehil.

On the monetisation aspect, the group at Findyahan has decided to sell lead packages to the vendor. Whenever a request is created, it appears on the seller dashboard of nearby provider carriers of that category. The touch details of the requester aren't shared with the service provider till he buys the lead. When he buys the lead, lead stability is deducted from his wallet. This permits carrier provider to spend most effective on leads that he knows he can hopefully fulfil and consequently have better possibilities of changing. But currently, the startup has stored the monetisation component on maintain till and is letting, service companies to apply it without cost with the credits, that the startup has given to them. It plans to start charging provider providers by mid of this year.

In beyond 3 months the startup has tripled the quantity of request they use to get before. “With the modern day finances coming in our middle focus is further improving our product and patron revel in.  We are very satisfied that Amit and the Phoenix Team liked what we are building and wanted to back us in our adventure of disrupting the provider marketplace in India.” Says Rachit Mathur, CEO & Co-Founder of FindYahan.Com.

Funds raised will be used to in addition grow the group and strengthen operations and era for boosting customer support & enjoy.

The Phoenix Fund, a multi-asset elegance fund, is coming in as a sole Investor in this round of funding for FindYahan. Other ecommerce investments made by using The Phoenix Fund encompass Hopscotch.In (2012), Overcart.Com (2014), Net2travel (1999) to call a few.

“We are very excited to lower back the great promoters Rachit Mathur & Snehil Khanor and their crew on this e-trade section which addresses a totally real and ubiquitous customer need of finding a terrific carrier issuer for diverse services in a micro marketplace. FindYahan no longer most effective connects the customer and the service issuer but additionally tracks the customer experience and remarks.” stated Amit Khanna of The Phoenix Fund

FindYahan had earlier raised a seed spherical led with the aid of Karan Bajwa – MD Microsoft India, Sunjay Kapur – MD Sona Koyo Steering, Amanpreet Bajaj – India Head Airbnb.Com and Parvesh Kumar – MD Helios Packaging Pvt Ltd. In February this 12 months. Hitesh Dhingra of LetsBuy, Rajatish Mukherjee, SVP, Godaddy are also in the advisory board of FindYahan.

Lets have a study the startups that got funded inside the hyperlocal services category lately:

taskbobTaskBob

The Mumbai-based totally mobile-simplest domestic offerings startup, TaskBob gives instant domestic services by means of sending pre-screened, proven, professional expert serviceman on the purchaser doorstep to restoration household home equipment such as AC, washing machine, laptop and refrigerator.

Services In:  Powai (suburb of Mumbai)

Funding: Raised investment of $1.2 Mn from Orios, Mayfield.

Founders: Aseem Khare

Founded In: 2014

urbanclapUrbanClap

The platform connects service expert like a plumber, a wedding photographer, a yoga instructor, or an interior dressmaker. UrbanClap’s ambition is to attach people with the first-rate expert who can do exactly what they need at a fee you're comfy paying.

Services In: Delhi/NCR

Founders: Varun Khaitan (IIT Kanpur, BCG), Abhiraj Bhal (IIM Ahmedabad, IIT Kanpur, BCG) and Raghav Chandra (Ex-Twitter engineer)

Founded In: October 2014

Funding: Raised INR 10 Cr. In investment from SAIF Partners, Accel Partners and the founders of Snapdeal, Kunal Bahl and Rohit Bansal.

LocaloyeLocalOye

Mobile market for hiring neighborhood provider experts, LocalOye crew does screening and private verification of each provider expert to make sure nice, warranty and fair pricing. A service provider can take a look at details of the purchaser like price range, area, timings, choices etc. And pick to accept the connection. This guarantees very excessive reliability and trust for each the clients and merchants.

Services In: Mumbai

Also Read:- WHAT ARE THE FOUR BRANDING TECHNIQUES?

Founders: Aditya Rao

Founded In: 2013

Funding: $5 Mn Series A funding from Tiger Global Management and Lightspeed Venture Partners; undisclosed amount in seed funding from Sidharth Rao (Co-founder Webchutney), Haresh Chawla (ex-Group CEO Network 18 and India Value Fund accomplice), and Sachin Bhatia (co-founder, MakeMyTrip).

Qyk logoQyk

Qyk permits customers to find nearby provider carriers consisting of tutors, coaches, occasion organisers, interior designers, architect and photographers. The group at Qyk collaborates neighborhood data and competitive prices from the maximum relevant carrier companies to permit customer to examine and lease high-quality service providers saving time and money.

Services In: Bangalore, Mumbai, Delhi, Hyderabad, Chennai, Pune, Kolkata

Founders: 4 IIT graduates viz Deepak Singhal, Sangharsh Boudhh, Shobhit Singhal, and Anubhav Sahoo.

Founded In: November 2014

Funding: Undisclosed quantity of angel funding from Zishaan Hayath, co-founding father of Toppr and Powai Lake Ventures, Abhishek Goyal CEO and co-founding father of Tracxn.Com and ex-Accel partner and Sahil Barua, CEO and co-founder of Delhivery.

Near.In-fundingNear.In

Near.In allow customers to discover service companies in their vicnity. The startup covers over one hundred categories consisting of health, domestic wishes and wellbeing, among others. The site claims to offer curated listing of carrier vendors based at the remarks from social media web sites like Facebook and purchaser boards among others, who are than looked after by Near.In’s in-residence group via calls, visits to stores, and many others.

Services In: Gurgaon

Founders:  Sunil Goyal, Lomesh Dutta and Akshay Khanna

Founded In: 2014

Funding: INR 1.Eight Cr. Anupam Mittal of Shaadi.Com, and Manish Vij SVG Media, Healthkart CEO Prashant Tandon and CTO Gaurav Agarwal, Akash Agarwal, worldwide vice-president of the cellular department of enterprise software program maker SAP Labs, Aspiring Minds CEO Himanshu Aggarwal and Kevin Parikh of consulting firm Avasant

doormintDoormint

On demand utility provider startup Doormint affords offerings from electricians, laundry, plumbers, carpenters, pest manage and appliance repair. The company also does heritage, criminal and police verifications earlier than they take experts on board.

Services In: Powai, Chandivali, Andheri, Ghatkopar, Vikhroli, Bhandup, and Mulund in Mumbai.

Founders:  Three IITians, Naman Lahoty (IITB), Abhinav Agarwal (IITB) and Piyush Ranjan (IITK)

Founded In: January 2015

Funding: Undisclosed quantity of funding from Powai Lake Ventures.

Local offerings is a $100 Bn marketplace, Housejoy is but some other participant on this area.



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