Tiger Global-backed UrbanClap to enter Australia
Price points in Australia are 4-5 times of India, said co-founder Abhiraj Bhal, making it a very lucrative country to do business in while keeping technology costs under control.
This comes roughly two months after the company announced raising a $75 million Series E funding which valued the Gurugram-based startup at close to $1 billion. The financing was led by Tiger Global.
“We believe that there is a huge opportunity to deliver high quality services in home repairs and beauty services in Australia. We have created a new axis in matching demand to supply,” said Abhiraj Bhal co-founder of UrbanClap, confirming the development. Price points in Australia are 4-5 times of India, Bhal said, making it a very lucrative country to do business in while keeping technology costs under control.
A clutch of Indian consumer internet startups is looking at international markets to expand operations after tapping the top Indian cities. For instance, Meesho is setting up a team in Indonesia, Firstcry, Lenskart, Delhivery are launching in markets like Dubai, Singapore among others.
Consumer internet brands like Wow Skin Sciences, The Ayurvedic Experience, and Tjori among others, are also increasingly looking at international markets to shore up sales.
The strategy to expand beyond India is largely driven by the aim to tap a higher order value market and clocks better margins.
Some late stage investors including Softbank have also mentioned in the past that they look for companies and business models that have the potential to go global from India.
Over the last few years alone, several consumer companies from Ola, Oyo, Paytm and Cure.Fit, to Bookmyshow, and Zomato have launched abroad.