Household Services Marketplace Helpling Secures S$30M In New Funding

Fresh investment combined with solid business fundamentals will accelerate growth in new verticals.

Helpling

Helpling, the leading online marketplace for household services, today announced that it has secured EUR 20 million (SGD 30 million) investment from ProSiebenSat.1, one of Europe’s leading media groups.

Existing investors such as Lakestar and Mangrove Capital also participated in the investment round. Collectively, Helpling has raised a total of EUR 87 million (SGD 132 million) in funding since launching in early 2014.

The company achieved profitability this summer across all markets and will use the new investment to drive significant growth and expansion across additional verticals.

“The investment is an important step towards Helpling becoming the hub for all home services. We will now move to the next phase of enabling as many people as possible to find and provide help at home. Germany and Singapore are at the forefront of our innovation – being the first markets where we are extending our business into adjacent
services like air conditioning servicing, laundry and furniture assembling,” said Helpling co-founder Philip Huffmann.

In summer 2021, Helpling plans to reach a turnover in a three-digit million Euro range across all markets.

In Asia Pacific, the company has established firm market strongholds in Singapore and Australia – with plans to expand into new markets. It entered Singapore in 2015 via acquisition of a local business.

“The Singapore business has grown 15x since its launch and is still one of the fastest-growing markets within the Helpling Group. We are confident that the extension of our services would bring even more convenience to our customers’ everyday lives and we can’t wait to share more about what is in store,” James Lim, Managing Director of Helpling Asia Pacific, said.

Helpling is Europe’s leading online marketplace for home services. On the website or via app, customers can book a vetted and insured cleaner and gain back free time within a couple of clicks.

The company was founded in early 2014 by Benedikt Franke and Philip Huffmann. Among its investors are Mangrove Capital, Lakestar, APACIG, Rocket Internet and Unilever Ventures. It offers its services in 10 countries: Australia, Germany, Italy, France, Ireland, UK, UAE, the Netherlands, Switzerland, and Singapore. – BusinessNewsAsia.com

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