A Bootstrapped Home-services startup Mr. Right now in Bangalore, Mumbai & Pune.
Noida-based Mr. Right, a bootstrapped home-services startup operating in Delhi-NCR, is launching its services in Bangalore, Pune and Mumbai. It plans to expand to all major Indian cities in the next three months.
Bengaluru | Mumbai | Pune | Red Newswire | By ET Bureau | 19 Nov 2015 09:42 PM IST.
While its services will be offered in these cities, the two-year old startup which has only twelve employees said that it is not setting up offices in these cities.
Prashant Chaudhary, Co-founder of Mr. Right, said, “We didn’t want to expand in a capital-extensive way. Instead of putting a lot of burden on ourselves, we want to put a lot of heavy-lifting on the product itself. The goal is not to go out and open offices.”
The startup, which has contracted over 3000 service providers on its platform, not only generates a lead, but also takes care of fulfillment of all of its services, across 15 categories.
The startup which has been bootstrapped since it was founded in 2013 by founders Prashant Chaudhary and Mayank Agrawal, is in the final stages of raising $25 – $30 million in its first round of external funding, according to Chaudhury.
“We have been trying to bootstrap it as much as we can. We have always focused on unit economics from day one. The challenge, now, is how fast and how far we can grow without compromising on the unit economics. The funds we raise is not to cover up our losses, but to generate traction and go to more cities,” said Chaudhury, who added that it will be a strategic investment by a large company.
Founders: Prashant Chaudhary and Mayank Agrawal (2013)
Cities: Delhi-NCR, Bengaluru, Mumbai, Pune.