Lifeasy Turns Cash Positive with Rs 3.25 Cr Revenue in FY 2017-18, Targets Rs 50 Cr by 2020
Noida-based on-demand home services app, Lifeasy claims to be a cash positive organization now. The startup has processed over 25,000 orders in FY 2017-18 and generated a revenue of Rs 3.25 crore. With services ranging from cleaning to repairing to painting and others, Lifeasy had completed 4,000 orders in FY 2016-17.
Speaking on the development, Rakesh Gupta, Co-Founder Lifeasy, said, “In a span of 2 years, Lifeasy has endeared itself to its users and subscribers. We have gathered our learnings from every single one of the 30,000+ services & deliveries that we have done so far. We are sure that our consumers will continue to place their faith in us and that Lifeasy will go ahead full steam with the varied offerings & plans that we will have in the coming future."
Two years old Lifeasy provides over 200 services in approx. 18 types of categories in Delhi/NCR currently. It is a bootstrapped venture having started with Rs 1.25 crore and will eventually move in to raise funds to accelerate its growth path. The expansion plans include expanding into the Bengaluru & Mumbai spaces after the Delhi-NCR market and expand its basket of services, so that Lifeasy becomes the partner of choice for any service at any home.
With a target of reaching the Rs 50 crore revenue mark by Q1-2020, Lifeasy plans to scale up with a daily service execution of 500-600 per day in the immediate future.
Estimated at $100 billion in India, with an average ticket size per household of Rs 20,000 per annum, the on-demand service category is one of the fastest growing service industries. What started as just electronics repair & cleaning services, is today a well-tuned and constantly evolving category where the Digitization of service delivery has made life simpler & cost effective for consumers. The size & near exponential growth of the on-demand service category clearly indicates that it is trusted by consumers and is now an integral part of their lives. Apart from Lifeasy, the other big players who are operating in this segment are UrbanClap, Housejoy and Quikr among others.
