Snabbit's expansion push comes at a cost as FY26 losses hit ₹168 crore
BENGALURU: Snabbit’s losses widened nearly 30-fold to ₹167.75 crore in fiscal year 2026 (FY26) as the instant home-help startup spent heavily on workers and marketing to build its business, highlighting the cost of scaling a service that must keep professionals close to customers to make each booking viable.
Revenue from operations rose to ₹12.25 crore in the year ended 31 March 2026 from ₹26.35 lakh a year earlier, while expenses surged to ₹194.76 crore from ₹6.81 crore, according to financial statements of Maestroedge Solutions Pvt. Ltd, which operates Snabbit. The company had reported a loss of ₹5.70 crore in FY25.
Costs relating to professionals were Snabbit’s largest expense at ₹63.07 crore, followed by marketing at ₹48.69 crore, employee expenses at ₹46.02 crore and service fulfilment expenses at ₹23.83 crore.
Revenue included ₹10.82 crore from platform services and ₹1.42 crore from uniform sales. Snabbit reports revenue after deducting discounts it pays for to lower customers’ bills.
Other income, mainly interest on bank deposits, contributed ₹14.77 crore, taking total income to ₹27.01 crore.
The spending reflects a familiar challenge from food delivery’s early years, when platforms funded discounts and delivery costs to attract customers. Instant-help companies face a similar task: persuading households to try a new service while ensuring enough workers are available to fulfil bookings.
Snabbit raised $56 million in April, taking its total funding to more than $112 million across five rounds. Its valuation in that round was reported at $350-400 million. Rival Pronto has raised about $60 million and was valued at $200 million in its latest round.
Urban Company’s board approved plans on Friday to raise up to ₹2,500 crore, subject to shareholder approval. The company said the proposed fundraising would support its established businesses, InstaHelp and potential acquisitions.
The bigger challenge is making the economics work beyond densely packed neighbourhoods.
Mint reported in August that instant-help providers such as Snabbit, Pronto, and Urban Company’s InstaHelp may have to nearly double prices as they expand into areas where homes are farther apart and workers have fewer bookings.
Currently, each professional completes 8-10 jobs over about 9.5 working hours a day, keeping the total servicing cost at ₹95-100 an hour, according to industry estimates cited in the report. This is also close to what customers pay in many cases.
That cost structure depends on jobs being clustered within a 300-400-metre walking radius. Longer journeys leave workers with less time to complete paid bookings, increasing the cost of each job.
Experts said prices may eventually need to rise above ₹200 an hour to make the model profitable. For now, platforms are focusing on high-demand neighbourhoods, assigning workers nearby jobs in succession and charging more during peak hours.
Snabbit used ₹157.46 crore in operating activities in FY26, equivalent to an average monthly cash burn of ₹13.12 crore. The full-year average, however, may not reflect its spending rate in FY27.
The company ended FY26 with ₹292.21 crore in cash and bank balances, including ₹285.70 crore in deposits, and another ₹26.65 crore in mutual funds. These balances predate its April funding round.
Salman S.H. is an Assistant Editor with Mint in Bengaluru, where he covers startups, venture capital, and the broader internet economy. Over the course of more than a decade in journalism and strategic communications, he has built deep reporting expertise across technology, fintech, consumer internet, digital platforms, and the business models shaping India’s new economy. At Mint, he tracks the companies, investors, and policy developments influencing how technology is built, funded, and scaled in India.<br><br>His reporting covers venture capital, startup strategy, fintech, edtech, funding trends, and the internet economy. He writes about how startups raise money, grow their businesses, respond to regulation, and adapt to changes in technology and policy. His work also looks at the impact of policy decisions on startups and investors, and tracks the sectors, founders, and firms shaping India’s digital economy.<br><br>Before Mint, Salman worked across several respected newsrooms, including The Economic Times, Financial Express, The Ken, Inc42, and The Core. He has also worked in strategic communications, leading PR strategy and media outreach for clients in education, online learning, consumer internet, and consulting. That combination of newsroom and communications experience gives him a clear understanding of how business stories are reported, shaped, and understood.
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