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Urban Company raises $190 million, valued at $2 billion

The home services provider's latest funding round saw participation from Tiger, Steadview Capital, Vy Capital, among others.

twitter-logoBusinessToday.In | April 27, 2021 | Updated 19:18 IST
Urban Company raises $190 million, valued at $2 billion
Founded in November 2014, the company has presence across 30 cities in India. (Image: Twitter)

Urban Company has become the latest Indian start-up to enter the unicorn club by raising $190 million from investors led by Prosus at a valuation of $2 billion.

The company was valued at $933 million during its last funding round in 2019, led by Tiger Global.

The home services provider's latest funding round saw participation from Tiger, Steadview Capital, Vy Capital, among others, The Economic Times reported citing regulatory filings sourced from Tofler.

While Prosus has invested $61.93 million for 3.18 per cent stake in the company, DF International has invested $37 million for 1.90 per cent stake. Wellington Management invested $33.2 million for 1.7 per cent stake.

Post this funding round, the company's founders -- Abhiraj Singh Bhal, Varun Khaitan and Raghav Chandra -- will hold 8.22 per cent stake each in the company. While Elevation Capital will hold a 14.56 per cent stake, Accel India will have a 14.40 per cent stake.

Founded in November 2014, the company has presence across 30 cities in India. It has also expanded to Australia, UAE and Singapore.

Also read: Rakesh Jhunjhunwala raised stake in these three stocks in Q4

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