Founders · 6 min

Bad numbers, good curve

Snabbit spent ₹16 for every ₹1 it earned and still raised more money. What investors were really buying, and what it means for your pitch.

Snabbit's filing for the year ended 31 March 2026 showed revenue of about ₹12 crore and total expenses of about ₹195 crore, a loss of about ₹168 crore. Put simply, it spent roughly ₹16 for every ₹1 it earned. In April 2026 it raised a Series D of $56 million.

Visual

The numbers behind the round

₹16spent for every ₹1 earned in FY26
70xgrowth in jobs per day, 500 to 35,000
Under ₹200loss per job by Sept 2026, from about ₹1,500
From Snabbit's FY26 filing and figures stated by the company, as cited in this piece.

That looks irrational until you look at the direction of the numbers instead of their size.

What the curve showed

Jobs per day went from about 500 at the start of the year to about 35,000 by the end, as stated by the company. The loss on every job went from about ₹1,500 early in the year to under ₹200 by September 2026, again as stated by the company. And early customers booked three or more times a month. That is a habit, not a trial.

Three signals investors fundFast growth. Losses that fall as you grow. A habit people repeat without being pushed.

Bad numbers are fine if the direction is undeniable.

The lesson for your pitch

If this year's numbers look bad, do not hide them. Show the trend line next to them. Show loss per customer, order or job over time, and show it falling. Show repeat usage. An investor is buying where the curve goes next, so give them the curve.

Visual

Curve or just burn

Size of this year's loss →How fast loss per customer is falling →Small loss, flatSmall loss, improvingBig loss, flat: just burnBig loss, falling fast
A big loss with a falling curve can raise money. A flat curve cannot, whatever the slide says. Illustrative numbers.

But be honest with yourself first. If your loss per customer is flat or rising, that is not a curve. That is burn, and no slide will make it look like anything else.

Sources: Snabbit FY26 RoC filing via Inc42 and YourStory (October 2026); Series D via Bar and Bench and PTI (2026); early customer data via TechCrunch (May 2025). Jobs per day and loss per job as stated by the company.

Vignesh Iyer

Vignesh Iyer

13+ years helping founders get ready to raise. 2,000+ founders supported and $100 Million+ in funding facilitated. One pitch fix every day on Instagram and YouTube.

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