Helpling banks about $22m to drive growth in new verticals

Helpling, an online marketplace for household services, has secured 20 million euros (about US$22.3 million) in investment from ProSiebenSat.1, a leading European media group.

Existing investors such as Lakestar and Mangrove Capital also participated in the round, which brings the company’s total raise to 87 million euros (roughly US$97.2 million), according to a statement.

Photo credit: Helpling

Berlin-based Helpling is an online platform that lets users book vetted and insured cleaners. The Rocket Internet-backed company also helps service providers gain easier access to customers, as well as manage when and where they want to work.

In Asia Pacific, Helpling has established its presence in Singapore and Australia, with plans to expand into new markets including Malaysia, Thailand, and Vietnam in 2020. The company also said it’s looking to use the new funds to drive growth across additional verticals.

It expanded to Singapore back in 2015, acquiring local business Spickify in the process.

Since its launch in the city-state, its business there has seen 15x growth and has been highly profitable, according to James Lim, Helpling’s Asia Pacific managing director.

“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 co-founder Philip Huffmann. Helpling also aims to report a turnover in a three-digit million euro range across all of its markets, Huffmann added.

In addition to Singapore, Australia, and Germany, the company also has operations in Italy, France, Ireland,  United Arab Emirates, the UK, the Netherlands, and Switzerland.

Late last year, Helpling raised a “seven-figure” investment from Swiss media group Tamedia. In 2017, it also secured US$11 million in a round led by Asia Pacific Internet Group, a joint venture between the German startup investor and Qatari telco Ooredoo.

Currency converted from Euro to US dollar: US$1 = .90 euros.