New Delhi, Oct. 16 -- Home services marketplace Urban Company announced earlier this week that its board would meet on Friday, October 16, to consider raising funds through equity shares and/or equity-linked securities via a qualified institutional placement (QIP), preferential allotment or other permissible routes.

The proposed fundraise comes at a time when competition in the instant home services space is intensifying, driven by the aggressive expansion of rivals such as Snabbit and Pronto.

On August 2, Urban Company announced that its instant domestic help service, InstaHelp, had crossed 100,000 orders delivered in a single day. Snabbit, meanwhile, says its daily job volume has surged from around 400 to more than 1.15 lakh in less t...