Portuguese home services app OSCAR has just raised over €6 million. OSCAR instantly connects users to over 12,000 highly qualified technicians, from plumbers, electricians and cleaning professionals, laundry and even beauticians for manicure and pedicure services at home, while offering fixed prices for more than 150 services.
The idea behind OSCAR came about when Marques faced difficulties when he tried to call three technicians from different websites to repair a water heater at home and none of them showed up.
After this experience, João Marques identified a gap in the market and decided to take action. He quit his job as a software engineer and embarked on this project. His first investor was the CEO of the company where he worked. OSCAR currently has more than 300,000 customers and provides more than €7 million in services annually.
Through intelligent algorithms, the platform is able to make professionals available in less than 30 minutes and to anticipate challenges during the service.
It also stands out as a crucial ally in the fight against the grey economy in domestic services. The app allows users and partners to monitor the entire process in real time.
João Marques, founder and CEO of OSCAR, comments:
“Since having a problem with a piece of equipment in my home without an effective online solution available to OSCAR becoming the Iberian market leader, it took three years, which shows just how much the home services market needed a new disruptive approach.
Our ambition is clear: we aim to be the No. 1 home services app in Europe within the next two years.”
Lince Capital and Indico Capital Partners co-ed the funding, with participation from Failup Ventures, Olisipo Way, Boost Capital Partners, Quiet Capital and the founders of unicorns Bolt and Wolt.
Francisco Formigal Pinto, Fund Manager at Lince Capital and OSCAR Board Member, adds that:
“OSCAR's success reveals the clear supply gap that existed in this sector, but above all it is essentially due to the management team's ability to execute, which has managed to combine the needs of both clients and technicians, adding value to both parties.
Since Lince Capital was one of OSCAR's first investors, it has been remarkable to witness its exponential growth and to help position the company as a market leader in Portugal.
We are therefore very excited about the potential for expansion in Spain and want to continue our mission of supporting the best entrepreneurship projects with Portuguese DNA.”
Stephan Morais, Managing General Partner at Indico Capital Partners explains:
“The home repairs market is particularly difficult because service providers vary greatly in quality and often tend to try to sidestep the marketplace once the relation with the client is established.
OSCAR´s model intrigued us because it minimises this aspect and creates a win-win relation for all parties involved - OSCAR, service providers and clients."
Lead image: OSCAR. Photo: uncredited.
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