OSCAR funding news – Home Services App OSCAR Secures Over €6 Million in Funding

Following this encounter, João Marques saw a market opportunity and made the decision to act. He started this initiative after quitting his work as a software engineer. The CEO of the company where he worked was his first investment. Currently, OSCAR serves over 300,000 clients and earns over €7 million in revenue each year from its services.

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The software anticipates problems during the service and may find professionals in less than 30 minutes thanks to clever algorithms.

João Marques, founder and CEO of OSCAR, comments: “Since having a problem with a piece of equipment in my home without an effective online solution available to OSCAR becoming the Iberian market leader, it took three years, which shows just how much the home services market needed a new disruptive approach. Our ambition is clear: we aim to be the No. 1 home services app in Europe within the next two years.”

The fundraising was co-led by Lince Capital and Indico Capital Partners, with involvement from the founders of the unicorn companies Bolt and Wolt, as well as Failup Ventures, Olisipo Way, Boost Capital Partners, and Quiet Capital.

Francisco Formigal Pinto, Fund Manager at Lince Capital and OSCAR Board Member, adds that: “OSCAR's success reveals the clear supply gap that existed in this sector, but above all it is essentially due to the management team's ability to execute, which has managed to combine the needs of both clients and technicians, adding value to both parties. Since Lince Capital was one of OSCAR's first investors, it has been remarkable to witness its exponential growth and to help position the company as a market leader in Portugal. We are therefore very excited about the potential for expansion in Spain and want to continue our mission of supporting the best entrepreneurship projects with Portuguese DNA.”

Stephan Morais, Managing General Partner at Indico Capital Partners explains: “The home repairs market is particularly difficult because service providers vary greatly in quality and often tend to try to sidestep the marketplace once the relation with the client is established. OSCAR´s model intrigued us because it minimises this aspect and creates a win-win relation for all parties involved - OSCAR, service providers and clients."

About OSCAR

Portugal startup home services app OSCAR came about because Marques had issues when he tried to call three specialists from different websites to repair a water heater at home and none of them showed up.

After that, use the app to explore all services and track the technician in real time. How to order:

1. Launch the app, then select a service.
2. Verify the cost and include the location
3. Make a time or give a quick call.
4. Use the map to follow the technician.