Portuguese home services app OSCAR has secured €6M in a Pre-Series A funding round, co-led by Indico Capital Partners and Lince Capital, with additional participation from Failup Ventures, Boost Capital Partners, and the founders of unicorns Bolt and Wolt.
This investment aims to support OSCAR's expansion within the Iberian Peninsula and facilitate its entry into the UK market.
Founded in 2019, OSCAR connects users with qualified technicians across services, including plumbing, electrical work, cleaning, laundry, and beauty treatments.
The platform guarantees fixed prices and fast service, addressing common challenges such as unreliable service providers and opaque pricing in the home services sector. OSCAR has grown to serve over 600,000 customers and generate more than €20M in annual revenue.
The recent funding will enable OSCAR to reinforce its presence in Portugal and Spain, where it has achieved market leadership, and to launch operations in the UK. The home services industry in Europe has traditionally been fragmented, with challenges related to service quality, pricing transparency, and trust.
Stephan de Moraes, Managing General Partner at Indico Capital Partners, expressed enthusiasm about OSCAR's growth:
“We are delighted with OSCAR’s exponential growth in Portugal and Spain, and are excited to be part of this round. This investment will be instrumental in OSCAR’s entry into the UK market and expanding its team, solidifying its customer service and the consistency of its offer.”
Francisco Formigal Pinto, Fund Manager at Lince Capital and OSCAR Board Member, highlighted the company's ability to address market gaps:
“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.”
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