In today’s fast-paced world, home services need to be efficient, reliable, and straightforward. OSCAR, an on-demand home services app for repair, cleaning, and others, meets these criteria by revolutionizing the European industry. With an impressive track record and significant growth potential, we are thrilled to support OSCAR’s mission to transform the home services market.
Here are the top three reasons why we invested in OSCAR:
1. Large & Broken Market with Immediate Need for Disruption
The home services industry in Europe has long been plagued by inefficiencies. Traditional services often act merely as marketplaces, connecting customers with technicians who charge by the hour or provide estimates, leading to prolonged service times and unexpected costs. This model not only frustrates customers but also disincentivizes technicians from working efficiently.
OSCAR addresses these issues head-on by offering a seamless solution where customers are matched with technicians in an average of 3 minutes, with technicians arriving within 29 minutes. By utilizing an algorithm that calculates fixed prices upfront, OSCAR ensures transparency and fairness in pricing, encouraging technicians to complete jobs promptly and move on to the next.
The potential market for OSCAR is substantial. Starting in Portugal, OSCAR has already amassed 200,000 paying users and is now expanding into Spain, with plans to enter other markets in the future. This strategic expansion underscores the vast, underserved market that OSCAR is poised to capture.
2. Superior User Experience and Operational Efficiency
OSCAR’s commitment to user experience is a cornerstone of their business model. By ensuring quick matching and arrival times, along with upfront pricing, they significantly enhance the customer journey, setting a new standard in the home services industry.
The app’s design and functionality are user-centric, making it easy for customers to book services and track the progress of their orders. This focus on UX not only drives customer satisfaction but also fosters loyalty and repeat business, as evidenced by the 50% of orders coming from recurring users.
Moreover, OSCAR’s operational model is built for efficiency. OSCAR demonstrates a keen focus on maintaining positive unit economics and operational efficiency. Their ability to adapt marketing strategies and maintain strong unit economics amidst growth highlights their operational acumen.
3. Strong, Committed Team with Proven Execution
OSCAR’s team is led by João Marques, a driven founder who has proven his ability to execute. João’s background as a software developer at Leadzai and his deep commitment to OSCAR, demonstrated by his move to Madrid to spearhead the company’s expansion, reflect his dedication and vision.
Supporting João is a seasoned team. The combination of tech and operational expertise positions OSCAR to scale effectively and tackle the challenges of rapid growth.
The team’s awareness of market risks, such as potential new competitors and evolving labor laws in the EU, and their proactive measures to mitigate these risks, further reinforce our confidence in their ability to navigate and lead the market.
Conclusion
We are excited to invest in OSCAR because they are transforming the home services industry with a customer-centric approach, operational excellence, and a committed team. Their innovative model addresses critical pain points in the market, offering a superior experience that is set to disrupt the industry significantly.
As OSCAR continues to expand and capture new markets, we are confident that they will achieve remarkable growth and set a new standard in home services. We look forward to supporting their journey and witnessing their continued success.
To learn more about OSCAR, visit their website.