Qyk mobile marketplace for local services raises angel funding
Bengaluru-based Qyk, a mobile marketplace for finding local services, has raised angel funding from a group of angel investors, including early investors of Ola, Housing and Delhivery.
Deepak Singhal, Co-founder & CEO of Qyk, said, “Hiring a local service provider in India is a big challenge and we feel the timing is perfect to build a mobile-first solution given the rapidly increasing smartphone penetration.”
Keeping up with uberification of services’ trend, Qyk seeks to serve as a one-stop platform for availing a range of local services from local service providers in the vicinity. The mobile marketplace connects service seekers with service providers. They are doing what JustDial has been doing for the web and call centre for a mobile and messaging era.
The founding team comprises folks with relevant experience in building scalable Internet and mobile products. Qyk was founded four months ago with a vision to build a hyper local solution for customers. Founders are alumnus of IIT Bombay and IIT Kharagpur -- Deepak Singhal, Sangharsh Boudhh, Shobhit Singhal and Anubhav Sahoo -- who come with past experience of working with companies like Ola, InMobi, Practo and Deutsche Bank.
How does Qyk work?
The app asks users to specify his/her service requirements and it pushes aggregates competitive quotes from the most relevant service providers. It makes it easy to compare and save time and money.Qyk is a mobile platform that enables customers to hire trustworthy service providers and professionals near their area. This includes service providers other than ‘home services’. Finding a reliable and competent local service provider specific to one’s requirements is difficult and time consuming. Qyk offers the customer, options tailored to his personalized needs by enabling comparisons and competitive quotes. This enables them to make a well informed choice.
Regarding the future potential of Qyk, “Local services solutions market is ready to be disrupted and this is a team which has the vision and skill-set to do it. We need a mobile solution like Qyk to help businesses grow and enable customers to find the right service providers,” says Zishaan Hayath, who is early investor in Housing and Ola.
Angel investors
Investors include Zishaan Hayath (Co-founder of Toppr and Powai Lake Ventures), Abhishek Goyal (CEO and Co-founder of Tracxn.com, ex-Accel Partners) and Sahil Barua (CEO and Co-founder of Delhivery).
Abhishek Goyal, early investor in Delhivery, says “Qyk is a great idea that helps us find local services that are more professional in nature. There are two large plays in local services, one is on-demand and the other is reverse auction. Reverse-auction business model is largely a technology play. Team Qyk’s approach of solving this problem via a mobile first product and their extensive experience in technology gives them a very big advantage to be the market leader.”
The local service space is crowded as multiple players are trying to solve ‘local’ by addressing it from different angle. Bangalore-based HonestCollars helps you discover helpers around you. Another player in a similar category, Near.in, had already raised INR 1.8 crore in angel round to grow their marketplace app for local service providers. Slew of apps are being birthed everyday for local, one of them is LookUp.
Visit their site: qykapp.com