Maestroedge Solutions, operator of the home services platform Snabbit, reported a net loss of ₹167.75 crore for FY26, representing a significant increase from the ₹5.70 crore loss in FY25. According to financial statements filed with the Registrar of Companies, the Mumbai-based company's revenue from operations rose substantially to ₹12.25 crore in FY26 from ₹26.35 lakh in the previous year. The company's total income reached ₹27.01 crore, with platform services contributing ₹10.82 crore and uniform sales to service providers adding ₹1.42 crore. Other income contributed ₹14.77 crore to the total revenue. The company reported a loss before tax of ₹167.75 crore with no current or deferred tax expense during the year. For every rupee of operating revenue generated in FY26, the company spent approximately ₹15.92, highlighting the challenging economics of delivering household services within minutes.
Speaking on LinkedIn about the losses, Snabbit's founder and CEO Aayush Agarwal explained that building a business from "scratch" requires significant investment, even when spending far exceeds revenue. As reported by Mint, Agarwal stated that the company deliberately invested in customer adoption, workforce training, technology, infrastructure and geographic expansion, adding that it would make the same investments again. He highlighted the dramatic improvement in unit economics, noting that at the beginning of FY26, the company was losing approximately ₹1,500 per job, while last month that number was below ₹200. Agarwal emphasized that the company is building a business where every additional layer of scale makes the underlying economics stronger, stating that the losses of FY26 reflect what it took to create this category, with FY27 numbers expected to show what that investment is beginning to deliver.
Total expenses surged dramatically to ₹194.76 crore in FY26 from ₹6.81 crore in FY25, as reported by Business Standard. The largest expense category was expert service costs at ₹63.07 crore, up from ₹27 lakh previously. Marketing spending increased nearly 60-fold to ₹48.69 crore, while employee benefit expenses grew to ₹46.02 crore from ₹3.27 crore. Service fulfilment expenses also rose significantly to ₹23.83 crore from ₹48 lakh. Other expenses, the largest cost head, amounted to ₹84.66 crore. These substantial increases in operational costs were primarily driven by the company's aggressive expansion strategy and customer acquisition efforts. The four major expense categories alone - expert services, marketing, employee benefits, and service fulfilment - amounted to ₹181.8 crore, nearly 15 times the company's operating revenue. The company also reported depreciation expenses of ₹1.02 crore during the year.
According to CEO Aayush Agarwal, the company expanded from 500 daily jobs across eight micro-markets at the start of FY26 to a run rate of 35,000 daily jobs across more than 100 micro-markets by year-end. As reported by Business Standard, the platform acquired nearly one million customers and onboarded over 20,000 experts during the year. The Bengaluru-based company, which incorporated in January 2024, focuses on booking house help, with initial emphasis on maids for cleaning and cooking services. Agarwal noted that FY26 was the first full year of operations, starting at 500 jobs a day and exiting at 35,000 daily jobs, representing a 70X growth in 12 months. He emphasized that the company built the infrastructure to create an entirely new consumer category, with services starting at ₹99 per hour and professionals completing 8-10 jobs over about 9.5 working hours a day, keeping the total servicing cost at ₹95-100 an hour.
Despite the losses, Snabbit maintained a robust financial position with ₹292.21 crore in cash and bank balances at the end of FY26, according to Mint reports. The company raised ₹427.8 crore during the year and closed FY26 with zero borrowings and a net worth of ₹312.4 crore. In April, the startup raised $56 million in a Series D funding round co-led by Susquehanna Venture Capital (SIG), Mirae Asset Venture Investments and existing backer Unicorn Growth Fund. Existing investors Nexus Venture Partners and Lightspeed also participated, while FJ Labs joined as a new investor. The round took Snabbit's total capital raised to more than $112 million (over ₹1,000 crore) across five funding rounds, with the company valued at around $350 million to $400 million in the latest round. The company used ₹157.46 crore in operating activities during FY26, equivalent to an average monthly cash burn of ₹13.12 crore.
