Bengaluru-based quick home services startup Pync has ceased operations, marking another exit in India’s fast-growing but highly competitive on-demand services market. The shutdown follows sustained pressure from rising operating costs and intense competition from larger, well-funded players in the segment.

As part of the transition, Pync’s three co-founders, Harsh Prateek, Mayank Sahu, and Dev Priyam, have moved to rival platform Snabbit, where they have taken up senior roles across operations and business functions. The development has been confirmed by people familiar with the matter.

Snabbit has also indicated plans to hire more than 20 former Pync employees as it looks to scale its operations, particularly in Bengaluru. The move allows Snabbit to absorb experienced talent while expanding its local execution capabilities.

Pync was founded in 2023 and initially focused on car cleaning services before pivoting to quick home services in Bengaluru. The startup had raised around $2 million in seed funding, with Accel among its backers, and aimed to build a rapid-response model for household services.

However, the segment has seen aggressive expansion by multiple players, leading to high customer acquisition costs, deep discounting, and significant cash burn. These factors have made it difficult for smaller startups to sustain operations without continuous funding support.

Industry observers note that the quick home services market increasingly favours platforms with scale, strong brand recall, and deep balance sheets, making survival challenging for early-stage companies.

Talent Absorption Strategy

Snabbit, which offers trained domestic help and home services with quick turnaround times, has been actively expanding its footprint. The decision to onboard Pync’s founders and team members is expected to strengthen its operational depth and execution speed.

The incoming leadership is likely to contribute to backend operations, city-level expansion strategies, and service quality optimisation, areas that are critical as competition intensifies in urban markets.

For former Pync employees, the transition offers continuity and stability within the same sector, reducing disruption while allowing Snabbit to benefit from an already trained workforce.

Pync’s closure is being viewed as an early sign of consolidation in the quick home services sector, similar to trends seen earlier in quick commerce and food delivery. As funding becomes more selective, only a few large players are expected to dominate the market.

Currently, the segment is led by listed consumer services company Urban Company, along with venture-backed players such as Snabbit and Info Edge-backed Pronto. These companies have raised significant capital to fund expansion and withstand prolonged periods of high burn.

Snabbit itself has raised about $30 million in a Series C funding round, while Pronto recently secured $13 million, highlighting the scale of capital required to compete effectively in this space.

Sector Outlook

The demand for quick, reliable home services continues to grow in urban India, driven by changing lifestyles and rising dual-income households. However, the economics of delivering such services at speed remain challenging.

Analysts believe that the sector will see fewer but stronger players over time, with consolidation helping improve unit economics and service quality. Smaller startups may increasingly look at acqui-hires or strategic exits rather than prolonged standalone operations.

Pync’s shutdown and the subsequent absorption of its team into Snabbit underscore this shift, pointing to a more concentrated and capital-intensive future for India’s quick home services market.