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Urban Company FY20 revenue jumps 103% led by demand in beauty and wellness

Bengaluru: Home services startup Urban Company, formerly UrbanClap, has reported a 103% year-on-year rise in revenue to ₹216 crore in 2019-2020 on account of demand in its beauty and wellness vertical.

The services startup had reported ₹106 crore of revenue and a loss of ₹67 crore in FY19. The company didn’t disclose net profit/loss figures for FY20 in its financials on Tuesday.

The net booking value of all transactions processed through the Urban Company platform grew 138% to ₹918 crore in FY20 compared with the corresponding period a year ago.

Urban Company said beauty and wellness vertical contributed to approximately 55% of its revenues in FY20. However, this segment remained largely suspended on the platform after a nationwide lockdown was imposed in late March.

After lockdown measures were eased in several districts since 4 May, Urban Company has seen demand picking up for home-based salon services, and for appliance repair and home maintenance services.

Abhiraj Bhal, chief executive, Urban Company said the startup already has over 120,000 users on wait list who have requested at-home salon and beauty services. But it currently operates these services only in non-containment zones. Its biggest markets including metro cities like Bengaluru, Chennai, Mumbai, are currently containment zones, and hence the business disruption is expected to have an impact on future revenues of the startup.

“Some of our home…

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