Quikr, which is rapidly expanding from its initial model of being a goods exchange marketplace, is now looking to enter the home services market in a big way.
The company has readied a Rs. 250 crore war-chest to fulfil its plans. Quikr has raised $300 million this year, will use this Rs. 250 crore on product development which will include technology and building in-house supply, besides marketing and also making strategic investments in startups.
The home services market in India is cluttered with numerous startups, none of which has a pan-India presence. Over 20 startups, including Amazon-backed Housejoy, LocalOye, Bro4u, UrbanClap, operate in this space, and some have raised as much as $5 million. Quikr, which is a billion dollar company, is aiming to become India’s largest player in this sector. The move ties in well with Quikr’s existing portfolio, as a customer renting a house through QuikrHomes can book repair and cleaning services on the platform itself.
Quikr hinted that it would both work with existing startups and liaison directly with service providers. “In some cases, we are building in-house capacity where we want to control quality and make sure we have tied up with right service providers, especially in areas where there is a frequent use case,” said QuikrServices head PD Sundar.
Quikr’s entry into the space could lead to significant churn in the market, with a consolidation among existing players being likely.