Mumbai, Oct 16 — Instant househelp platform Snabbit has reported a sharp increase in losses during FY26 as the company ramped up spending to expand its footprint and acquire customers, despite recording strong revenue growth in its first full year of operations.
According to financial statements sourced from the Registrar of Companies, the startup posted a net loss of Rs 167.8 crore in FY26, compared with Rs 5.7 crore in the previous fiscal year.
Its revenue from operations, however, jumped 46-fold to Rs 12.2 crore.
Founded in 2024 by Aayush Agarwal, Snabbit offers on-demand household services such as cleaning, dishwashing and laundry, promising service delivery within 10 minutes through a network of trained professionals.
The company's core platform services contributed Rs 10.82 crore, accounting for around 88 per cent of its operating revenue, while the remaining income came from the sale of uniforms.
Snabbit also earned Rs 14.76 crore as other income, largely from interest on bank deposits, exceeding the revenue generated from its core operations.
The startup's aggressive growth strategy was reflected in its expenditure. Total expenses surged to Rs 194.8 crore in FY26 from Rs 6.8 crore a year earlier.
Expert service costs stood at Rs 63 crore, while employee benefit expenses reached Rs 46 crore.
The company also spent Rs 48.7 crore on marketing and Rs 23.8 crore on service fulfilment, alongside other costs related to recruitment, commissions, legal services, software maintenance and administration.
The heavy investment in customer acquisition, worker onboarding and market expansion resulted in a loss nearly 14 times its operating revenue.
The company spent about Rs 15.92 to generate every rupee of operating revenue during the fiscal year.
Snabbit's financial metrics reflected the pressure of rapid scaling, with the company reporting a negative return on capital employed (ROCE) of 58.45 per cent and an EBITDA margin of minus 1,481.63 per cent.
The startup has raised more than $112 million from investors, including a $56 million Series D funding round backed by Susquehanna VC, Mirae Asset Venture Investments and Bertelsmann India Investments.
Despite the losses, Snabbit said demand for its services continues to grow. The company claimed it crossed 115,000 fulfilled jobs in a single day and completed four million househelp jobs during the first quarter of FY27.
It also said burn per job declined by more than Rs 100 quarter-on-quarter to below Rs 250.