Rocket Internet backed Helpling acquires local rival Spickify in Singapore

Visual from the homepage of Helpling

In just over a month of its launch in Singapore, Rocket Internet backed Helpling, that provides cleaners-on-demand, has acquired local rival Spickify for an undisclosed amount.

For Rocket Internet, this is a second instance of a firm in its portfolio making an acquisition in the city state this year. Last month, Rocket backed Foodpanda had announced the full acquisition of key competitors across seven countries in Southeast Asia(SEA), consolidating its market leadership across the SEA food delivery market. Active in 39 countries worldwide, Foodpanda has acquired competitors in India, Malaysia, Singapore, Philippines, Pakistan, Hong Kong and Thailand.

Also Read: Foodpanda cements leadership in ASEAN

FoodPanda acquisitions are part of the larger Rocket Internet narrative

Helpling, which had launched operations in Rocket Internet’s base in Berlin has since expanded to Europe, Asia and Latin America. It had raised $17 million in fresh funding in a Series A round recently from Mangrove Capital, Phenomen Ventures, Point Nine Capital and Delivery Hero chairman Lukasz Gadowski. Rocket did not participate in that round.

Spickify was founded as a community project and competes with other startups such as KlujeFixit.sg and ProperHands in the cleaners-on demand space. In its first year of operations, the company has about 200 regular customers and also about 150 cleaners on its rolls and charges a flat hourly rate of S$18 during weekdays and S$20 on weekends. Its differentiation is the up to $1 million insurance cover that it gives, for any damage that may occur during cleaning services. The company has not raised any external funding.

The deal will also propel Helpling to be the largest player in the space in Singapore. Spickify will be rebranded as Helpling, and the combined entity will soon launch a mobile app to facilitate easier booking for their customers.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.