Urban Company invested Rs 72 Cr last year on training and upskilling partners
The investment is part of the company’s mission to foster upward social mobility for more than 50,000 service partners, said the company's ESG India Report.
, a home services marketplace, had invested Rs 72 crore in training and upskilling partners in 2022, as per the company's annual Environmental, Social, and Governance (ESG) India Report.
The investment is part of the company’s mission to foster upward social mobility for more than 50,000 service partners, benefitting 1.25 crore households, said the report.
"Our ESG report showcases our commitment to fairness, meritocracy, and empowering every member of our community to unlock the opportunities they deserve," said Abhiraj Singh Bhal, Co-founder and CEO of Urban Company.
The report pointed out that about 20% of service partners earned Rs 38,000 in monthly earnings, which is 3.16X of the minimum wage in Delhi, while the monthly net earnings of partners with fewer than 30 jobs were Rs 30,625. It added that female service partners earn almost 15% more than men in western and central India.
Urban Company had disbursed close to Rs 39 crore worth of loans through tie-ups with non-banking financial institutions and Rs 2.3 crore as insurance claims under its Security and Well-Being Benefits programme.
It has also disbursed stock options worth Rs 5.3 crore to 500 partners as part of the Partner Stock Option Plan initiative towards wealth creation, said the report.
Founded in November 2014, Urban Company offers services such as beauty and spa at home, cleaning, plumbing, carpentry, appliance repair, and painting, through its mobile app and website. It operates in more than 50 cities in India, the UAE, Singapore, and the Kingdom of Saudi Arabia. It has a partner network of over 50,000 service professionals.
The Urban Company Partner app, available in nine regional languages, aims to empower service partners by giving them access to income tracking, insurance claims, access to credit, a helpline, and more.
So far, the company has helped save 146 million units of energy through AC servicing and prevented over 25 lakh units of durable goods from ending up in landfills, said the report. This in turn prevented 121+ crores of CO2e GHG emissions, through its Home Repairs and Maintenance vertical, the report noted.