Urban Co. raises fresh funds worth ₹1,410 cr

NEW DELHI: Urban Company, the on-demand home services marketplace, has raised $188 million (₹1,410 crore) in a funding round led by Prosus, the entity that holds South African conglomerate Naspers’ international internet assets.

Dubai-based Vy Capital, alternative investments firms Steadview Capital and Tiger Global Management, DF International Partners, and Boston-based Wellington Management also participated in the round, regulatory filings from Urban Company parent UrbanClap Technologies showed.

Prosus committed $62.2 million to the round. Vy Capital put in $30 million, Steadview contributed $10.3 million, Tiger Global invested $14.8 million, Wellington put in $33.3 million, and DF International infused a total of $37 million through its two funds.

Urban Company was valued at close to $1 billion in August 2019 when it raised $75 million in a round led by Tiger Global. The firm is also backed by investors such as Bessemer Venture Partners, Trifecta Capital, Accel, and Eight Road Ventures India.

The valuation, following the latest infusion, could not be immediately ascertained. Earlier today, an Economic Times report put the valuation at $2 billion. Email queries to Urban Company went unanswered till press time.