NoBroker becomes India’s first proptech unicorn with fresh $210 million funding – TechCrunch – /


Indian startups, bettering the best way thousands and thousands of individuals throughout the nation lease and purchase residences, are the newest firms to grow to be unicorns within the South Asian market.

Bungalow base NoBroker The founders instructed TechCrunch in an interview that they raised $ 210 million in a Collection E funding spherical. Tiger International and Common Atlantic, two present traders, and Moore Strategic Ventures co-led a Collection E funding spherical for a 6-yr-previous startup.

The spherical charges NoBroker at about $ 1 billion. $ 350 million in April 2020.. In line with the founder, there have been no secondary transactions, that’s, the sale of shares by present traders, together with the founder, within the new funding spherical.

NoBroker helps individuals contemplating shopping for or renting an condominium keep away from brokers and due to this fact keep away from brokerage charges. The startup operates in a number of main Indian cities, together with Bangalore, Delhi, Pune and Hyderabad. The startup’s platform lists over 7.5 million properties, with over 16 million individuals utilizing the service.

Through the years, NoBroker has added a number of additions, together with monetary companies (for instance, to offer clients with lease safety) and residential companies similar to movers and packers to fulfill cleansing and furnishings wants. It has expanded to classes. We additionally run a service referred to as No Brokerhood that goals to maintain the neighborhood related and handle and monitor guests. NoBrokerhood additionally permits residents of society to purchase and promote objects to one another and competes with a few of MyGate’s merchandise, additionally backed by Tiger International.

New funding continues for months of robust progress because the Indian state eased blockage restrictions earlier this yr and mobility resumed. In an interview, NoBroker founder and CEO Amit Kumar Agarwal mentioned the startup has tripled from final yr.

“NoBroker’s digital first strategy to effectively resolving actual property house owners, tenants, patrons, housing societies, builders renting, buying, upkeep, and associated wants is a paradigm shift,” mentioned Common Atlantic Managing. Director Shantanu Rastogi mentioned in a press release.

“The concentrate on the founder’s customer-first mindset is a precursor to NoBroker’s continued penetration into this market and fixing probably the most tough issues. Sooner or later, NoBroker’s product stack would be the world’s. Among the laws within the growing market may additionally be related. We’re happy to have the ability to take part in NoBroker’s continued success. “

In a joint interview, Agarwal and different founders of the startup, Akhil Gupta and Saurabh Garg, mentioned the startup will roll out new funding from the present six to broaden to 50 cities in a few years.

This can be a growing story. learn extra…

NoBroker becomes India’s first proptech unicorn with fresh $210 million funding – TechCrunch Source link NoBroker becomes India’s first proptech unicorn with fresh $210 million funding – TechCrunch



NoBroker becomes India’s first proptech unicorn with fresh $210 million funding – TechCrunch – /

Leave a Reply

Your email address will not be published. Required fields are marked *