A college friendship between two IIT Kanpur friends resulted in the launch of a home service startup - achieved Rs 437.6 Cr operating revenue in FY22.

Urban Company, formerly known as Urban Clap, has emerged as the largest home service provider in India since its inception in 2014. The company was founded by three friends, Abhiraj Bhal, Varun Khaitan, and Raghav Chandra, who identified a gap in the home services sector.

A college friendship 

Abhiraj and Varun met when they were studying at IIT Kanpur. 

Abhiraj pursued an MBA degree from the Indian Institute of Management (IIM) Ahmedabad, and Varun joined Qualcomm after graduating from the prestigious Indian Institute of Technology (IIT) Kanpur. 

Both Abhiraj and Varun had a passion for entrepreneurship and previously founded a startup called Cinemabox, which lasted only six months.

After meeting their third co-founder, Raghav Chandra, who had also experienced a failed startup, the three identified a gap in the home services sector. They decided to create Urban Clap in November 2014.

What does Urban Company do?

Urban Company is a platform that offers high-quality home services such as cleaning, plumbing, and beauty treatments through its app-based platform. The company has a strict verification process that ensures the safety and security of both customers and service professionals.

The company's customer base has grown rapidly over the years, and it currently has 50 lakh customers and a network of 30,000 service professionals. 

The company's founders identified a gap in the market, developed an app-based platform, and built a strong network of service professionals to meet the demand.

The trio's vision was to provide reliable, professional, and safe home services to customers at their doorstep while also creating a thriving community of service professionals.

There is a wide range of high-quality home services that the startup provides to its customers. 

These services include cleaning, plumbing, electrical services, appliance repair, painting, carpentry, pest control, and beauty treatments. The company has also recently expanded its offerings to include online consultation services for health and wellness, including yoga, fitness, and mental health. 

Urban Company's platform allows customers to book these services easily and conveniently and also provides a seamless payment and feedback system. The company ensures the safety and security of both customers and service professionals through a strict verification process and background checks.

The company's success can also be attributed to its strict verification process, which ensures the safety and security of both customers and service professionals. The company's ability to adapt to changing market trends and customer needs has helped it become a leading player in the home services sector.

The Numbers 

The startup is backed by Ratan Tata, and in 2021, it reached a valuation of $2.1 billion. In December 2021, it raised over Rupees 23,000 crore in its fourth Employee Stock Ownership Plan (ESOP) sale.

In FY22, Urban Company's operating revenue stood at Rupees 437.6 Cr, up 76.7 percent from Rupees 247.7 Cr from the previous year. The company's success is a testament to the power of friendship and the resilience of entrepreneurs.

In conclusion, Urban Company has become the largest home service provider in India in just under a decade since its inception in 2014. 

The company's growth and success are a testament to the power of friendship and the resilience of entrepreneurs. The company's journey from a casual conversation among friends to a leading home service provider in India is an inspiring story that showcases the potential of innovative ideas and hard work.