UrbanClap’s yearly revenue was a little around $1.7million in 2017, and considering then, it has just evolved. It has secured a total funding of $110million, which is Large! Urban Company FY20 revenue jumps 103% led by demand in beauty and wellness. And considering the current scenario of UrbanClap, the company wants to expand itself globally. That’s why the company changed its name from UrbanClap to Urban Company.
The revenue model of UrbanClap is similar to various freelancing sites. Registration of professionals is free at the early stage, but some percentage will be transferred to them as commission once they get an order. The percentage lies between (15%-20%). Other revenue models are;
For the fixed charges services like plumbing, electrician, UrbanClap gets the payment directly from the customers on the app. After this, they transferred the fixed commission amount into the service provider account.
For the services that do not have fixed amounts like an interior designer, yoga instructor, UrbanClap charges the experts for lead generation and sponsored listing.
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