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
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 Kluje, Fixit.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.