Overview
- Snabbit is raising INR 265.4 crore in Series C funding, led by Bertelsmann Nederland B.V., with Lightspeed, Elevation Capital, and Nexus participating, according to regulatory filings.
- The filing shows Bertelsmann investing Rs 135.39 crore, Lightspeed and Elevation Rs 53.09 crore each, and Nexus Rs 23.89 crore.
- The board approved 54,876 Series C CCPS at Rs 48,377 per share, carrying a 0.01% non-cumulative dividend and 1:1 convertibility, with valuation detailed by Sundae Capital Advisors.
- The new capital pegs Snabbit’s valuation at about $180 million and takes total funding to roughly $55 million, as the company reports more than 10,000 daily bookings and 300,000 total October orders across 40 micro markets in five cities.
- The company has relocated its headquarters to Bengaluru and added senior leaders across product, technology, data, and trust and safety, with the funds designated for working capital and nationwide expansion.