Urban Company board weighs fresh fundraise
By Abha Lohia ·
Urban Company: revenue and funding and every story →
- Urban Company, the listed home services platform, will have its board meet on October 16 to consider raising money
- Routes on the table include a QIP, preferential allotment or private placement; sources say it may seek about $200 million
- The move comes as its quick service arm Insta Help faces rivals Snabbit and Pronto in on-demand household chores
What happened
- Board meets on 16 October.
- Options include a QIP, a share sale to big institutions.
- Talk is of about $200 million.
Why it matters
- Insta Help competes with Snabbit and Pronto.
- Use of funds was not disclosed.
The business
- Home services marketplace.
- Runs quick short-task service Insta Help.
What happens next
- Board decision on 16 October.
Up against
SnabbitPronto
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