Bengaluru-based quick home services startup Pync has shut down operations, marking a significant development in the rapidly growing segment. Founded in 2023, Pync initially offered car-cleaning subscriptions before pivoting to house-help services. The company raised around $2 million in seed funding last year and operated only in Bengaluru, serving over 25,000 households.
Founders Join Rival Snabbit
Pync’s three cofounders—Harsh Prateek, Mayank Sahu, and Dev Priyam—have joined rival Snabbit in senior roles across operations and business functions. Snabbit has also announced plans to hire 20–25 Pync employees in the coming months to strengthen its Bengaluru operations. Founder Aayush Agarwal said the team’s experience in running lean operations would add immense value to Snabbit’s growth journey.
Pync’s Growth and Challenges
At its peak, Pync onboarded around 200 new service partners each week and managed more than 1,000 service professionals. Despite serving thousands of households and scaling quickly, the startup faced high monthly burn rates and operational pressures. Increasing competition from Urban Company, Snabbit, and Pronto put further strain on margins and growth prospects.
The Competitive Landscape
The quick home services sector is characterized by high fixed costs, low marginal delivery costs, and aggressive growth strategies. Urban Company remains the market leader, followed by Snabbit and Info Edge-backed Pronto, while smaller players like Pync and Broomies occupy the remaining market share. The segment saw 1.4 million orders in December, illustrating its rapid expansion and intense competition.
Operational Pressures and Consolidation
Rising expenses due to expansion, deep discounting, and seasonal workforce fluctuations have squeezed margins across the board. Startups in the space have prioritized market share over immediate profitability, mirroring the economics of quick commerce. Pync’s shutdown signals early consolidation in a sector where operational excellence is crucial for survival.
Snabbit’s Expansion Strategy
Snabbit, founded by former Zepto executive Aayush Agarwal in 2024, has raised $60 million to date, including a $30 million Series C round led by Bertelsmann India Investments. The company offers trained domestic help within 10–15 minutes and plans to expand into adjacent services such as cooking. Integrating Pync’s team and expertise will help Snabbit scale faster and gain an operational edge in Bengaluru.
Funding and Market Movements
Pronto has also been actively raising funds, reportedly targeting $20–25 million from existing and new investors. The segment’s rapid growth has pushed monthly cash burn among major players from $2–3 million in August to $7–8 million by December. This funding activity and consolidation trend highlight the sector’s high-stakes environment.
Pync’s closure reflects the growing pressures on startups in the fast-expanding home services market. The transfer of talent and operations to Snabbit underscores the importance of operational efficiency and scale in surviving the competitive landscape. As the sector matures, consolidation is expected to continue, with leading players strengthening their positions while smaller startups exit or merge.