wecasa Secures $17.7M to Revolutionize Home Care & Wellness

Wecasa Secures $17.7 Million in Funding

The French company Wecasa has successfully completed a funding round, raising $17.7 million (equivalent to €15 million). Blisce spearheaded the investment, with continued support from existing investors including Serena, ISAI, and Frédéric Mazzella.

Wecasa is developing a platform designed to connect individuals with providers of in-home care and wellness services.

Expanding Service Offerings

Over recent years, Wecasa has strategically broadened its range of services. Initially focused on providing at-home hairdressing, the company has since incorporated massage therapy, beauty treatments, housekeeping, childcare, and sports coaching into its offerings.

This expansion demonstrates a commitment to becoming a comprehensive solution for various home-based needs.

Geographic Expansion

Currently, Wecasa’s primary operational area is France. However, the company extended its reach with a launch in London during April of 2021.

Future plans include the introduction of its services to additional European markets, anticipated to occur within the next year.

Key Metrics and Growth

Wecasa projects revenue of $23.6 million (€20 million) for the current year. This represents a substantial increase – a threefold growth – when compared to the revenue generated in 2020.

The platform currently serves 150,000 customers and hosts a network of 5,000 registered professionals.

Focus on Partner Acquisition

As with many marketplace models, the continued growth of Wecasa is dependent on expanding its network of service providers. The company aims to onboard an additional 3,000 professionals by the close of 2021.

Wecasa’s team currently comprises 50 employees, with plans to add another 30 personnel throughout the year.

Competitive Landscape

Wecasa operates within a competitive market for in-home services in France. In the housekeeping sector, competitors include Helpling, O2, and Shiva, among others.

For babysitting services, Wecasa faces competition from companies like Yoojo and Yoopies. Other marketplaces, such as Lulu dans ma rue and Stootie, specialize in on-demand tasks like home repairs.

Strategic Diversification and Market Opportunity

Wecasa’s gradual addition of new service categories is a strategic approach. It allows for greater control over the quality and competence of the professionals listed on the platform.

A significant market opportunity exists, as many referrals for services like babysitting and housekeeping still occur through offline channels. This suggests room for multiple successful marketplaces.

Wecasa appears to be favorably positioned to establish a robust brand and comprehensive service offering across multiple markets.