Helpling, the Rocket Internet-founded company that lets you book a range of home services online, is disclosing €10 million in new funding. The round was..
Helpling , the Rocket Internet-founded company that lets you book a range of home services online, is disclosing €10 million in new funding. The round was led by Asia Pacific Internet Group (APACIG), the joint venture between Rocket Internet and Ooredoo, and also includes a number of other existing investors.
According to sources, however, the new funding gives Helpling a significantly lower valuation than it attained during its previously disclosed $45 million (~€42m) Series B in March 2015.
I also understand not all of the company’s VC shareholders participated. Accel, for example, which became an investor in Helpling when it merged with the U. K.’s Hassle , is notably missing in action.
In other words, chalk this up as a ‘down round,’ and a possible reflection of how much the on-demand services space has cooled in the eyes of investors.
One source tells me it’s a tough climate to raise for any on-demand services company right now, not least in Europe where Amazon is rumoured to be launching its own home services business, following an earlier U. S. roll out .
In fact, I already know of one ex-Amazon Home Services manager who has moved from Seattle to London to take up the position of General Manager for an ‘undisclosed’ soon to launch pan-European Amazon business.
