UrbanClap Founders To Invest Rs.107 Crore As a Part Of Its Series D Funding | CashKaro News Network

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UrbanClap Founders To Invest Rs.107 Crore As a Part Of Its Series D Funding

The founders of India’s largest home services marketplace – UrbanClap have promised to invest Rs.107 Crore ($15 million) in the business. This investment is said to be a part of their Series D funding round. Each of the three founders – Abhiraj Bhal, Raghav Chandra and Varun Khaitan will invest in Urbanclap Rs. 35.66 crores each in installments. The first installment of this transaction was worth Rs. 2882 for each of the co-founders. As per Abhiraj Bahl, this investment had been in the pipeline for some time now. The company had decided back then that this investment will be a part of their Series D funding. The trio will hold 5764 partly paid shares each. The company had also raised a $50 million Series D funding in December last year. The round was followed by raising stock worth $2 – 2.5 million from its existing and former employees.

Source: Entrackr

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