# Service Souk DMCC

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/service-souk-dmcc

- Industry: Marketing/Advertising
- Headquarters: Dubai, United Arab Emirates
- Website: http://www.servicemarket.com
- Total disclosed funding: $7M
- Latest round: Series B (Sep 14, 2018)
- Investors on record: 2

## About

Service Souk DMCC is a home services marketplace connecting customers with vetted service providers in Dubai, offering over 25 services including cleaning, maintenance, and moving, enhancing convenience for residential and commercial users.Founded in 2013 in Dubai, United Arab Emirates, Service Souk DMCC operates as a home services marketplace. The company has successfully completed 5 deals, with its most recent transaction occurring on February 14, 2023, during which it raised USD 4.00 mn in a Series B funding round involving investors such as AddVenture and Emaar Investments. Bana Shomali is recognized as the founder of the company.ServiceMarket operates as a comprehensive home services marketplace, offering a diverse range of over 25 services tailored to meet the needs of residential and commercial customers in Dubai and the broader Middle Eastern region. The company connects users with licensed and vetted service providers for various tasks, including moving, cleaning, maintenance, and gardening. By streamlining the process of finding and booking home services, ServiceMarket aims to simplify the user experience and ensure high-quality service delivery. Their customer base includes homeowners, businesses, and families looking for reliable service providers, enhancing convenience and efficiency in managing home-related tasks. The company has effectively positioned itself within the UAE market, catering to the growing demand for home services among residents and expatriates alike.ServiceMarket generates revenue through a transaction-based model that facilitates the connection between service providers and customers. The company enables users to book services directly through its platform or request quotes from various service partners, allowing for flexibility in service selection. Transactions are structured around a commission model, where ServiceMarket takes a percentage of the fees charged by service providers for completed jobs. This includes flagship services such as moving, cleaning, and maintenance, which are critical in the local market. The structure supports both B2C and B2B transactions, catering to individual consumers as well as commercial clients, enhancing the company's revenue potential through diverse service offerings.In February 2023, Emirates Telecommunications Group Company P.J.S.C. acquired Service Souk DMCC for an undisclosed amount. This acquisition is expected to enable Emirates Telecommunications Group to expand its digital services. There are no specific details available regarding new products or geographic expansion plans at this time.

## Funding rounds

- Series B, Sep 14, 2018, $4M — Emaar Investments, AddVenture
- Series A, Sep 20, 2016, $3M — AddVenture

## Investors

- AddVenture (https://capitalatlas.ai/funds/addventure) — Series A, Series B
- Emaar Investments — Series B