Snabbit Posts Rs 168 Cr Loss in FY26 on Rs 12.25 Cr Revenue
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Khushi Jain
- October 16, 2026
On-demand home services startup Snabbit reported a net loss of Rs 168 crore in FY26 on operating revenue of Rs 12.25 crore, highlighting the high costs of building and scaling its business. The company’s losses come as competitors Urban Company’s InstaHelp and Pronto also spend heavily to expand their operations and capture market share.
According to its annual financial statements sourced from the Registrar of Companies (RoC), Snabbit’s revenue from operations rose to Rs 12.25 crore in FY26 from Rs 26 lakh in FY25.
Founded in 2024 by Aayush Agarwal, Snabbit connects households with trained professionals for services such as cleaning, dishwashing and laundry. Customers can book professionals by the hour, with the platform promising service within 10 minutes.
Platform services contributed Rs 10.82 crore, accounting for 88% of Snabbit’s operating revenue. The remaining revenue came from the sale of uniforms.
The startup also reported Rs 14.76 crore in other income, primarily from interest on bank deposits. This meant its interest income exceeded the revenue generated by its core operations, a pattern seen among some consumer internet businesses in their early years as they invest in growth amid intense competition.
Snabbit’s Expenses Rise to Rs 195 Cr in FY26
Snabbit’s expenses increased significantly as it invested in employees, service professionals, customer acquisition and fulfilment.
Employee benefits accounted for Rs 46 crore, while expert service costs stood at Rs 63 crore. The company spent another Rs 49 crore on marketing and Rs 23.8 crore on service fulfilment.
Additional expenses, including banking charges, commissions, recruitment, legal costs, software maintenance and other overheads, took total expenses to Rs 195 crore in FY26, compared with Rs 6.8 crore in FY25.
As a result, Snabbit’s net loss increased to Rs 168 crore in FY26 from Rs 5.7 crore in the previous fiscal year. At the unit level, the startup spent Rs 15.92 to generate every rupee of operating revenue.
Given the early stage of the category, traditional profitability metrics may not fully reflect the business’s progress. However, Snabbit reported a negative return on capital employed (ROCE) of 58.45% and an EBITDA margin of -1481.63% in FY26.
Snabbit Raises Over $112 Mn as It Expands Operations
Snabbit has raised over $112 million to date, including a $56 million Series D funding round from Susquehanna VC, Mirae Asset Venture Investments and Bertelsmann India Investments.
The startup has also reported an increase in demand. It said it crossed 115,000 fulfilled jobs in a day and completed four million househelp jobs during Q1 FY27. Its burn per job declined by more than Rs 100 quarter-on-quarter to below Rs 250.
Snabbit founder Aayush Agarwal said FY26 was the company’s first full year of operations. According to Agarwal, the startup expanded from around 500 daily jobs across eight micro-markets at the beginning of the year to 35,000 daily jobs across more than 100 micro-markets by year-end, representing a 75X increase in daily jobs.
During the year, the company also acquired nearly one million customers and onboarded over 20,000 experts.
Agarwal said the Rs 167.8 crore loss reflected investments in expansion, customer and expert acquisition, and the development of long-term capabilities. He added that “FY26 financials do not reflect current economics”, citing improvements in operating leverage and unit economics as the business increased its presence across neighbourhoods.
Urban Company’s InstaHelp and Pronto Compete for Market Share
Snabbit is competing with other platforms seeking to turn household chores into a quick-commerce-style service.
Urban Company’s InstaHelp completed around 1.9 million orders in July 2026, ahead of Snabbit’s 1.85 million. Meanwhile, Pronto crossed 1.25 million bookings.
The competition is also prompting established player Urban Company to invest in quick home services. The company has been looking to raise $200 million, while Snabbit and Pronto continue to expand their operations.
For now, the platforms are focused on acquiring customers, building their workforce and fulfilling orders faster. Their ability to sustain high spending before achieving profitability remains a key question as they compete for market share.
The quick home services market is entering a phase in which scale alone may not guarantee a lasting advantage. Faster fulfilment and repeat usage can help establish customer habits, but the economics will depend on worker utilisation, customer acquisition costs and the number of bookings each platform can generate within a neighbourhood.
The next challenge for these companies will be converting demand into a sustainable business without relying on repeated funding rounds.
FAQs
1. What was Snabbit’s net loss in FY26?
Snabbit reported a net loss of Rs 168 crore in FY26, compared with Rs 5.7 crore in FY25.
2. How much revenue did Snabbit generate in FY26?
Snabbit recorded Rs 12.25 crore in operating revenue in FY26, up from Rs 26 lakh in FY25.
3. How much funding has Snabbit raised?
Snabbit has raised over $112 million, including a $56 million Series D round from Susquehanna VC, Mirae Asset Venture Investments and Bertelsmann India Investments.
4. How many daily jobs did Snabbit handle by the end of FY26?
Snabbit scaled to 35,000 daily jobs across more than 100 micro-markets by the end of FY26.
5. How did Snabbit’s order volumes compare with competitors in July 2026?
Urban Company’s InstaHelp completed around 1.9 million orders in July 2026, compared with Snabbit’s 1.85 million. Pronto crossed 1.25 million bookings.
