In the last few years, the proliferation of digital labour platforms has led to the transformation of business models and labour relations in an increasing number of economic activities, including highly feminized and informal traditional sectors, such as care and domestic work. Drawing on an analysis of 37 digital care platforms in Spain, this research compares the distinctive features and structural power dynamics they engender, and it constructs a taxonomy of business models of these care platforms. By analysing the main features of their operational models, we are capable of distinguishing three main types of platforms: marketplace, on‐demand, and digital placement agencies. First, the paper argues that the distinctive features of each digital platform business model have differentiated impacts on working conditions in terms of access to tasks, remuneration, flexibility and means of control. This differentiation allows us to understand what is transformative and what is continuous in platforms' precarization or formalisation of care work and working conditions of carers, mainly women and migrants. Each business model has its differentiated outcomes in terms of labour control and reorganization of women's and migrants' reproductive work. Second, more broadly, while digital care platforms may have contributed to facilitating workers' access to jobs, reducing transaction costs and standardising processes, this has often been through the creation of more flexible and insecure forms of work and to increased market pressures. Therefore, this study contributes to existing research addressing the degree of formalization of labour relations in digital platform work through a nuanced analysis of their business models.