Summary
- Snabbit’s operator lost ₹167.75 crore in FY26 on ₹12.25 crore of operating revenue, in its first full year of operations.
- Aayush Agarwal is the only named founder. Five rounds since 2024 total about US$112 million; one report values the latest near US$350 million.
- Several published figures conflict, from monthly active users to valuation. Read the founder’s claims against the filings before drawing conclusions.
Snabbit founder Aayush Agarwal runs a company that spent ₹194.76 crore (about US$20.4 million) in FY26 to book ₹12.25 crore (about US$1.3 million) in operating revenue. The net loss came to ₹167.75 crore (about US$17.5 million), against ₹5.70 crore (about US$0.6 million) a year earlier, according to filings with the Registrar of Companies reported by PTI on 16 October 2026.
Agarwal calls it a deliberate bet on building a category. The filings show how big that bet was. His own numbers, and several published ones, show how much the company still has to prove.
US$ figures in this story convert at about ₹95.7 per dollar, the interbank rate on 18 September 2026. They are approximate.
In this story (about 11 minutes)
Table of Contents
The Powai problem and the Zepto years
Agarwal’s origin story is a household one. He was a working professional living away from home in Powai, Mumbai, and couldn’t find anyone reliable to clean his place. He told YourStory in September 2025:
“I didn’t know how to find someone to clean my house.” Aayush Agarwal, YourStory, September 2025
The problem, as he described it, was access. Workers in gated communities couldn’t reach residents, and residents couldn’t find them, even though demand and supply both existed.
He came to the idea from quick commerce. According to his LinkedIn profile, as cited by Startuppedia, Agarwal holds a PGDM in banking, corporate finance and law from the Institute of Management Technology, Ghaziabad. He joined Zepto in 2022 as a senior manager in finance, then rose to associate director and finally vice president and chief of staff.
In a podcast interview summarised by Recapio, he said the chief of staff job meant fixing operating problems in dark stores and weaker cities, and helping the founders raise money in a tough funding climate. Snabbit’s operator, Maestroedge Solutions, was incorporated in January 2024. Agarwal’s pitch is that the logic that made quick commerce work where supermarkets hadn’t can work for household labour. That is the founder’s framing, not a finding.
One founder, not a founding team
Searches for “Snabbit founders” turn up one name. Every outlet StartupIndiaX reviewed credits Agarwal alone, and Inc42’s company profile lists him as the only founder.
His ownership is harder to pin down. The FY26 filing, as reported by PTI, shows him holding 98.98% of the company’s equity shares, and a salary of ₹60 lakh in FY26, up from ₹15.47 lakh. Yet Inc42’s cap-table page showed him at 30.1% as of 4 November 2025, and Entrackr put his stake at 36.08% after the Series B in 2025.
The gap may come from what each figure counts. The filing number covers equity shares, while investors hold compulsorily convertible preference shares, which a Series C filing described. That is editorial analysis, and StartupIndiaX has not confirmed it.
The team around him has changed. Pync, an Accel-backed rival, shut down and its founders joined Snabbit, People Matters reported. In August 2026 the company named Pradeep Yadav, a Klydo co-founder, as head of operations, and moved Vikas Choudhary, who had overseen operations since May 2025, to a new-business role, according to MediaNews4U and Indian Retailer.
Aayush Agarwal, year by year
Read in sequence, the timeline shows how little time separated the first test from the first full-year accounts. Joining Zepto to incorporating Snabbit took about two years. Incorporation to the Series D took two years and three months.
What a ten-minute booking actually sells
Customers book help by the hour in the app: cleaning, dishwashing, laundry and, more recently, cooking. YourStory described Snabbit’s supply model in September 2025 as captive supply with flexibility: the company sources, trains and deploys its workers, whom it calls experts, and keeps them outside the usual gig or employee labels. Agarwal said the median time from booking to arrival was 10 minutes 36 seconds. That is a founder’s claim from September 2025.
Pricing has moved. TechCrunch reported in May 2025 that Snabbit charged ₹169 to ₹499 (about US$2 to US$6 at the time) for sessions of up to 240 minutes. Inc42 reported, citing media reports, that Snabbit’s average order value was near ₹130 in the December 2025 quarter, against ₹172 at Urban Company.
The FY26 filing splits the revenue into ₹10.82 crore (about US$1.1 million) from platform services and ₹1.42 crore (about US$0.15 million) from selling uniforms to experts. It does not say, in the coverage reviewed, how platform services revenue is calculated.
Agarwal’s argument for the model is about cost structure:
“Home services is an easier P&L to crack” Aayush Agarwal, Business Today, 11 May 2026
He told Business Today there is no warehousing, inventory or third-party logistics. He also said a locality cluster starts making money at about 500 jobs a day, and that some mature markets already run above 1,000. Both are company claims, not audited figures.
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Five rounds in two years
Snabbit has raised money five times since early 2024. A US$1 million seed from Nexus came first, followed by a US$5.5 million Series A led by Elevation Capital in January 2025 and a US$19 million Series B led by Lightspeed in May 2025.
The US$30 million Series C (about ₹265 crore) followed on 30 October 2025, led by Bertelsmann India Investments. Then came the US$56 million Series D (about ₹530 crore) on 28 April 2026, co-led by Susquehanna Venture Capital, Mirae Asset Venture Investments’ Unicorn Growth Fund and Bertelsmann, with FJ Labs joining as a new investor. Total capital raised stands at about US$112 million, as of April 2026.
Valuations are where reports diverge. TechCrunch put the Series D at around US$350 million, citing a person familiar with the matter, and Free Press Journal reported about US$360 million. The company did not disclose a figure. Reports in March 2026 had pointed to talks at US$400 million or more, so the closing number was lower than the early chatter. The Series C was reported at US$172 million by Entrackr, from filings, and US$180 million by TechCrunch.
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Reading the FY26 books line by line
FY26 was the first full year of operations. Agarwal said the company began it at about 500 jobs a day across eight micro-markets and ended at a run rate of 35,000 daily jobs across more than 100. He also said it acquired nearly a million customers and onboarded over 20,000 experts. All of that is the founder’s account.
The filings tell the cost side. Total income was ₹27 crore (about US$2.8 million), including other income of ₹14.77 crore (about US$1.5 million). The coverage reviewed does not say what that other income was. Against that sat ₹194.76 crore of expenses.
Expert service costs were the largest head at ₹63.07 crore (about US$6.6 million), up from ₹27 lakh. Marketing rose nearly sixty-fold to ₹48.69 crore (about US$5.1 million). Employee benefits reached ₹46.02 crore (about US$4.8 million) from ₹3.27 crore, and service fulfilment ₹23.83 crore (about US$2.5 million). The company had 309 employees on 31 March 2026. Inc42 summed it up as roughly ₹16 spent for every ₹1 of operating revenue, which matches the arithmetic.
Agarwal’s defence, in the PTI report:
“invest ahead of scale to build a category, not just a company” Aayush Agarwal, Business Standard/PTI, 16 October 2026
He has also said the loss per job fell from about ₹1,500 at the start of FY26 to below ₹200, as media reports put it. That is a founder’s claim, and it does not appear in the filings. Ascendants noted that the financials don’t say how much of the loss came from discounts or promotional pricing, so blaming cheap bookings alone would be inaccurate.
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Numbers that do not line up yet
Snabbit’s story comes with figures that don’t sit comfortably together. None of them proves a problem. Different definitions can explain some of the gaps, and StartupIndiaX has not verified any of them.
The biggest tension is scale. Mint reported in October 2025 that Snabbit had become a business running at about ₹8 crore a month, with a US$11 million ARR claim. The FY26 filing shows ₹12.25 crore of operating revenue for the entire year. The excerpt StartupIndiaX reviewed doesn’t say what the Mint figure measures, so the two may not be comparable.
Users show a similar gap. At the Series D, Snabbit claimed over 10 million monthly active users. A Morgan Stanley note put March 2026 monthly active users at 1.2 million. Even FY25 revenue varies by source: ₹26.35 lakh in the filing as reported by PTI, against ₹1.1 crore (about US$0.1 million) in Open Magazine’s reading of Tofler data.
For a founder, the lesson is plain. When your own numbers circulate in three versions, readers pick the one that suits their story.
Urban Company, Pronto and a three-million-booking month
Snabbit isn’t alone. Urban Company, which is listed, launched Insta Maids, later renamed InstaHelp after a social media backlash, Inc42 reported. Pronto, a Gurugram-based rival, raised US$25 million at a US$100 million valuation in March 2026, Business Standard reported, and a US$20 million extension in May 2026, according to Business Today.
Volumes are close. The Economic Times, as relayed by Storyboard18, reported that in February 2026 Urban Company handled about 840,000 to 850,000 orders, Snabbit about 830,000 and Pronto about 340,000. A report carried by Inkl said the three together crossed 3 million monthly bookings in April 2026. Entrepreneur India reported in July 2026 that Snabbit had reached 1.5 million monthly jobs in June.
YourStory reported in August 2026 that Snabbit said it had passed 1,15,000 jobs a day, a company claim that can’t be set directly against rivals’ data. The Ken’s headline said Urban Company’s InstaHelp was losing more per order than the order was worth in February 2026, so the burn isn’t Snabbit’s alone.
On user numbers, the Morgan Stanley note reported 6.5 million monthly active users for Urban Company, 2.7 million for Pronto and 1.2 million for Snabbit in March 2026. Agarwal told Inc42 in May 2026, “Our discounts are at lifetime lows.” He also said the category would make or break its investors within 18 months, according to Inc42’s account.
What is Aayush Agarwal worth? No verified figure exists
Snabbit is private, and StartupIndiaX found no credible outlet that has published a personal net worth for Agarwal. One auto-generated profile site shows a range from zero to over ₹1,000 crore, which StartupIndiaX does not treat as an estimate.
What is known is narrower. Company valuation, reported near US$350 million for the Series D, isn’t personal wealth. His stake is reported as 98.98% of equity shares in the FY26 filing and 30.1% in a November 2025 cap-table listing, and the difference hasn’t been explained. Until Snabbit or a regulator publishes a fully diluted ownership figure, any number would be a guess.
The experts behind the app
Snabbit says it has more than 15,000 experts, all of them women, as of April 2026. Agarwal told Business Today they earn 30 to 40% more than prevailing minimum wage benchmarks, and the company has tied up with lenders for credit and offers insurance. As of April 2026, central government minimum wages ran from about ₹783 a day for unskilled work to ₹1,035 for highly skilled work, Business Today noted.
The Week was more cautious. It reported that Snabbit initially paid around ₹22,000 to ₹40,000 a month for 8 to 12 hour days, and questioned whether pay and prices can hold once heavy discounting fades. A viral video in August 2026 showed one worker’s July earnings above ₹47,000, but Free Press Journal stressed that it shouldn’t be read as typical.
What other founders can take from year one
Pick density before geography. The Series D release cited 140 micro-markets across five cities, and Agarwal told Business Today the plan was fewer geographies, gone deeper. Whether that holds when rivals discount hard is the open question.
Define your loss metric before critics do. Loss per job is a sharper number than a headline loss. But it only works if you publish how you calculate it.
Reconcile your numbers in public. Figure 4 shows what happens when revenue, users and valuation circulate in several versions. A short definitions page would cost Snabbit nothing.
Rewrite the operating model as you grow. Agarwal told Entrepreneur India in July 2026, “What worked for the first 100 users doesn’t work for the next 10,000.” The hires of Pync’s founders and a new head of operations are consistent with that, in our reading.
What the next filing has to show
Agarwal says FY26 doesn’t reflect the underlying economics of the business as it stands today. The next filing will test that. Watch whether operating revenue climbs toward the volumes the company claims, and whether expert costs and marketing grow slower than jobs.
If you’re modelling burn in your own company, our Startup Runway Calculator shows how long a given loss rate lasts, and the Funding Round Dilution Calculator shows what a round like Snabbit’s would cost a founder in ownership. Tell us in the comments whether you’d book help in ten minutes, and share this with a founder who’s weighing speed against margin.
FAQs
Who is the founder of Snabbit?
Snabbit was founded by Aayush Agarwal, a former Chief of Staff at Zepto. Filings and press coverage name him as the only founder, and the company’s FY26 accounts show him holding 98.98% of equity shares. The company was incorporated in January 2024.
How much did Snabbit lose in FY26?
Snabbit’s operator, Maestroedge Solutions, reported a net loss of ₹167.75 crore for the year to 31 March 2026, up from ₹5.70 crore in FY25. Operating revenue was ₹12.25 crore, against total expenses of ₹194.76 crore, per filings reported on 16 October 2026.
How much funding has Snabbit raised and who are the investors?
Snabbit has raised about US$112 million across five rounds, as of April 2026. Backers include Nexus Venture Partners, Elevation Capital, Lightspeed, Bertelsmann India Investments, Susquehanna Venture Capital, Mirae Asset’s Unicorn Growth Fund and FJ Labs. The US$56 million Series D closed on 28 April 2026.
What is Snabbit’s valuation?
Snabbit has not disclosed its Series D valuation. TechCrunch reported about US$350 million in April 2026, citing a person familiar with the matter, and Free Press Journal reported about US$360 million. Earlier, at Series C in October 2025, reports put it at US$172 to US$180 million.
What is Aayush Agarwal’s net worth?
No credible, verified figure exists for Aayush Agarwal’s personal net worth. Snabbit is private, and published stake figures differ: 98.98% of equity shares in the FY26 filing, 30.1% on one cap-table profile from November 2025. Company valuation is not personal wealth.
Is Snabbit profitable?
No. Snabbit is loss-making; its FY26 loss was ₹167.75 crore. Agarwal says unit economics are improving, with loss per job falling from about ₹1,500 to under ₹200, but that is his claim and does not appear in the filings.
How does Snabbit compare with Urban Company and Pronto?
All three sell app-booked home help in minutes. A Morgan Stanley note put March 2026 monthly active users at 6.5 million for Urban Company, 2.7 million for Pronto and 1.2 million for Snabbit. Entrepreneur India reported Snabbit reached 1.5 million monthly jobs in June 2026.
Sources
Story type: public-source profile and case study.
- Business Standard/PTI, “Snabbit operator posts ₹167.75 cr loss in FY26; revenue rises to ₹12.25 cr”, 16 October 2026. https://www.business-standard.com/companies/quarterly-results/snabbit-operator-posts-168-cr-loss-in-fy26-revenue-rises-to-12-25-cr-126101600679_1.html
- IANS, “Snabbit’s FY26 loss widens nearly 29-fold to Rs 168 crore”, 16 October 2026. https://ianslive.in/snabbit-fy26-loss-widens-nearly-29-fold-to-rs-168-crore–20261016144251
- Inc42, “Snabbit Spent ₹16 To Earn Every Rupee In Operating Revenue In FY26”, October 2026. https://inc42.com/buzz/snabbit-spent-₹16-to-earn-every-rupee-in-operating-revenue-in-fy26/
- Ascendants, “Snabbit Burns Rs 168 Crore in FY26 as Aggressive Expansion Raises Questions Over Quick Home Services Economics”, October 2026. https://ascendants.in/industry_events/snabbit-fy26-loss-168-crore-revenue-home-services-profitability/
- PTI via Business Standard, “Home services platform Snabbit raises $56 mn in Series D funding round”, 28 April 2026. https://www.business-standard.com/companies/news/home-services-platform-snabbit-raises-56-mn-in-series-d-funding-round-126042800223_1.html
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- Entrackr, “Exclusive: Snabbit set to raise $30 Mn with over 2X valuation premium”, October 2025. https://entrackr.com/exclusive/exclusive-snabbit-set-to-raise-30-mn-with-over-2x-valuation-premium-10600876
- Entrackr, “Decoding Snabbit’s Series B round, valuation and captable”, 2025. https://entrackr.com/fintrackr/decoding-snabbits-series-b-round-valuation-and-captable-9331453
- YourStory, “How Snabbit is digitising India’s domestic help industry”, September 2025. https://yourstory.com/2025/09/mumbai-startup-on-demand-home-services-snabbit
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- Entrepreneur India, “The 10-Minute Disruptor”, 17 July 2026. https://india.entrepreneur.com/?p=97955
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- Inc42 Datalabs, Snabbit cap table and people pages. https://inc42.com/company/snabbit/captable/
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- MediaNews4U, “Snabbit names Pradeep Yadav as Head of Operations”, 17 August 2026. https://www.medianews4u.com/snabbit-names-pradeep-yadav-as-head-of-operations/
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Disclosure: This article was drafted with AI assistance and reviewed and fact-checked by the StartupIndiaX Editorial Team. StartupIndiaX has not independently verified company-reported figures, and filing figures are as reported by the cited outlets.
Corrections: Spotted an error? Email corrections@startupindiax.com and we will review and update the article.
Written by the StartupIndiaX Editorial Team, StartupIndiaX writers covering Indian startups, founders, and entrepreneurship.
