House-help app Snabbit burns Rs 195 crore to chase Rs 12-crore revenues in FY26

Instant househelp startup Snabbit, which has raised $112 million in venture capital money, earned Rs 12.2 crore in operating revenue for fiscal year 2026 while incurring a Rs 168 crore loss, according to financial statements sourced from the Registrar of Companies. The numbers reflect the fast growing and high-cash-burn nature of the 10-minute househelp space, in which Snabbit competes against Urban Company and General Catalyst-backed startup Pronto.Snabbit, backed by the likes of Nexus Venture Partners and Lightspeed, started operations in August 2024, making FY26 its first full year of operations.The Bengaluru-based company’s total expenses stood at Rs 195 crore during the year. Expert service costs (paid to its professionals) of Rs 63.1 crore were its biggest expense for the year, followed by marketing costs at Rs 48.7 crore, employee benefit expenses of Rs 46 crore and others.The operating revenue included Rs 1.4 crore from sale of uniforms to its professionals. Snabbit also reported Rs 14.8 crore in interest income, taking its total revenue to Rs 27 crore in FY26.Operationally, Snabbit reported an earnings before interest, taxes, depreciation and amortisation (Ebitda) loss of Rs 181.5 crore in FY26."Given the pace of growth and the investments required to build this category from the ground up, FY26 financials do not fully reflect the underlying economics or the maturity of the business today," Snabbit founder and CEO Aayush Aggarwal said in a statement. "As we continue to scale, the benefits of operating leverage, improving unit economics and increasing network density are becoming increasingly evident."Founded by Aayush Agarwal, Snabbit offers hyperlocal, on-demand home services such as general cleaning, dishwashing, and laundry in 10 minutes. It has recently expanded to at-home beauty services through Blush.In January, amid fierce competition, Accel-backed househelp startup Pync shut down with its founders joining Snabbit in senior roles across operations and business.ET has been reporting on the sector’s increasing spend over the last few months. Cash burn across the instant househelp sector rose 14% month on month (MoM) to $16-17 million in June. In May, the combined cash burn of Urban Company’s InstaHelp, Snabbit, and Pronto stood at $14-15 million.The startups have been raising funding to sustain their rapid growth. The board of listed home services platform Urban Company will meet on October 16 to consider a fresh fundraise, according to an exchange filing by the company on Tuesday. Urban Company is planning to raise Rs 2,000-2,500 crore via a qualified institutional placement (QIP), per sources.In April, Snabbit raised $56 million (around Rs 529 crore) in a round co-led by Susquehanna Venture Capital, Unicorn Growth Fund and Bertelsmann India Investments. The round valued the startup at $350 million, almost double its $180 million valuation in October.Rival Pronto also closed a $45 million round in May this year from US-based technology investor Lachy Groom, Epiq Capital, General Catalyst, and Bain Capital Ventures. The startup’s post-money valuation was $200 million.You use AI every day. Now get your AI Quotient. Take the AIQ test.