Snabbit Reports Rs 168 Crore FY26 Loss as Quick Home Services Competition Grows
Two-year-old on-demand home services startup Snabbit reported a net loss of Rs 168 crore for FY26, widening from a loss of Rs 5.7 crore in FY25. Operating revenue surged to Rs 12.25 crore from Rs 26 lakh a year earlier, driven mostly by platform services which contributed Rs 10.82 crore. However, total expenses scaled up sharply from Rs 6.8 crore to Rs 195 crore as the firm spent heavily on marketing, expert services, and workforce expansion.
The steep financial losses reflect aggressive efforts to gain market share in the quick home services sector. Founded in 2024 by Aayush Agarwal, Snabbit spent Rs 15.92 for every rupee of operating revenue earned in FY26. The company expanded its reach from 500 daily jobs across eight micro-markets to 35,000 daily jobs across more than 100 micro-markets during the fiscal year. Meanwhile, competition in the sector is intensifying, with rival Urban Company Limited (NSE:URBANCO) expanding its InstaHelp and Pronto services and seeking to raise USD 200 million.
Moving forward, Snabbit and its competitors face the challenge of turning high order volumes into sustainable earnings. Key factors will include worker utilization, repeat bookings, and demand density within local neighbourhoods. Having completed over four million jobs in Q1 FY27 while reducing burn per job below Rs 250, Snabbit will need to show continued progress in unit economics to minimize reliance on external funding.
Key points
- Snabbit reported a net loss of Rs 168 crore for FY26, up from Rs 5.7 crore in FY25.
- Operating revenue grew to Rs 12.25 crore from Rs 26 lakh, while total expenses reached Rs 195 crore.
- Snabbit spent Rs 15.92 to generate each rupee of operating revenue, with an EBITDA margin of -1,481.63%.
- Daily job volume increased 75-fold to 35,000 across 100 micro-markets during FY26.
- Snabbit competes with Urban Company Limited (NSE:URBANCO), which completed 1.9 million InstaHelp orders in July 2026.
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What was Snabbit's financial performance in FY26?
Snabbit reported a net loss of Rs 168 crore on operating revenue of Rs 12.25 crore in FY26, compared to a net loss of Rs 5.7 crore on revenue of Rs 26 lakh in FY25. Total expenses rose to Rs 195 crore.
How much funding has Snabbit raised to date?
Snabbit has raised over USD 112 million to date, including a USD 56 million Series D round supported by Susquehanna VC, Mirae Asset Venture Investments, and Bertelsmann India Investments.
Who are Snabbit's main competitors in quick home services?
Snabbit competes primarily with Urban Company Limited (NSE:URBANCO), which offers services such as InstaHelp and Pronto in the on-demand household services market.