Urban Company Partners noon To Provide Home Services In UAE, Saudi Arabia

IPO-bound Urban Company has partnered Dubai-based digital company noon to provide home services in the UAE and Saudi Arabia.

Under the partnership, the companies will provide services like hourly and monthly cleaning plans, deep cleaning and laundry, AC, plumbing, and electrical repairs, at-home salon, massage, and grooming services in the UAE. In Saudi Arabia, they will offer hourly and monthly cleaning plans, deep home cleaning, home maintenance, and at-home massage and nail care for women.

The rollout will begin soon across both markets, with full booking and support features built directly into the noon app.

Founded in 2016, noon is a digital company which provides ecommerce, food delivery, and fintech services in Middle Eastern countries like the UAE, Egypt, Saudi Arabia, Kuwait, Bahrain, among others.

The partnership comes at a time when Urban Company is gearing up for its public listing. The company filed its draft red herring prospectus (DRHP) last month for an INR 1,900 Cr IPO. Its public issue will comprise a fresh issue of shares worth INR 429 Cr and an offer-for-sale component of INR 1,471 Cr.

As per the DRHP, the consumer services startup operates in 59 cities across India, the UAE, Singapore and Saudi Arabia.

Earlier this month, Inc42 reported that Urban Company has begun restructuring its operations in Saudi Arabia. In its DRHP, the company said it has started transferring its Saudi operations to a joint venture launched in 2024, with an intent to eventually wind down its step-down subsidiary in the country, Urban Company Arabia for Information Technology.

The Saudi subsidiary saw its loss before tax widen 182% to INR 23.4 Cr in the nine months ended December 31, 2024 from INR 8.3 Cr in the year-ago period.

Urban Company, founded in 2014 by Abhiraj Singh Bhal, Varun Khaitan, and Raghav Chandra, provides a tech-enabled, full-stack online marketplace platform that connects customers with trained and verified service professionals. 

The company primarily offers home services including cleaning, beauty, home repair, and maintenance through its app-based model. It operates on a marketplace model where customers can book services, while professionals pay subscription fees and commissions to use the platform. 

Over the years, the unicorn has evolved beyond its initial commission-based model and now also earns revenue from products sold to service professionals and direct-to-consumer products under its Native brand. Earlier this year, Urban Company also ventured into quick commerce with its “Insta Help” service offering 15-minute bookings for household tasks in select markets.

On the financial front, Urban Company reported a consolidated net profit of INR 242.6 Cr during the nine months ended December 31, 2024 (9M FY25), helped by a deferred tax gain of INR 215.5 Cr. Its operating revenue zoomed 41% to INR 846 Cr during the period under review from INR 600.9 Cr in 9M FY24