The home services startup Frapperz Raised Funding $400K from its existing investors. The company is in constant talks with its investors in Australia and Hyderabad.
It’s been just a bit more than a month that the startup Frapperz raised funding $100K in the seed round from an investor group. And now the company is willing to raise again and expand wider.
Numero Technologies Pvt Ltd is the Kolkata-based operator of Frapperz. A married couple Jyotirmay Kanthal and Rimjhim Ray found the company in 2016. Earlier they also were the co-founders of the creative digital firm Unmarketeer. Frapperz aggregates the home service professionals and connects them to people needing those services. Currently, the portal has Architects and interior designers, kitchen designers, Vastu experts, feng shui experts, landscape and gardening professionals, and home painters.
As of now, the company operates only in Kolkata and claims more than 10,000 mobile downloads. The monthly gross transaction value of the firm stands at $ 10,000. The profitabilities and break-evens of the firm are undisclosed as yet.
The company if cracks this deal intends to strengthen its technical support.Another motive of the homer service providers is to expand their services out of Kolkata as well. A company spokesperson revealed these plans of the Frapperz and spoke nothing much about their plan of actions to achieve this.
Shiva Gunapu and Sirish Tarumani would be participating in the round. Gunapu is an Australian healthcare entrepreneur and Tarumani is Hyderabad’s high worth personality. Apart from these investors, even the co-founders are putting in some of their money.
The current reach of Frapperz is limited. The company operates in a single city and on boards over 250 home service experts. Th company is moving ahead with a hiring rate of 20 per month. Also, the company in the most recent days started a geo-tagged community. This online community lets the users skims through the hand-picked offerings, catalogues, content by professionals, etc. The community also provides video discussions delivered by property and legal advisors, and other experts.
The home services market is silling up fast. Frapperz faces some strict competitions from UrbanClap, Housejoy, Helpi, and Timesaverz. However, the niche has no big player as yet, and all these are trying to establish a monopoly.
In the most recent developments in the home services market, UrbanClap raised $3.1 million from the venture debt firm Trifecta Capital. Furthermore, in January, maid provider company Didi acquired TimeMyTask in a whole stock deal. Recently, even the Google, entered the space with its own venture called Areo.