General Atlantic leads $fifty one mn investment round in NoBroker
Property listings portal NoBroker.Com said on Thursday it has raised $51 million (around Rs 354 crore at the current trade price) in a Series C spherical of investment led through personal equity company General Atlantic.
Existing investors SAIF Partners and Bee next also took element inside the funding spherical, NoBroker stated in a declaration. The spherical takes the entire funding it has raised to this point to $ seventy-one million.
The startup, operated by way of Bengaluru-based NoBroker Technologies Solutions Pvt. Ltd is a home rental and buys a platform that facilitates users to locate homes without paying any brokerage. It presently offers quit-to-cease services in 5 towns: Mumbai, Bengaluru, Pune, Chennai, and Gurugram.
“This cutting-edge funding spherical will guide us in our plans to make bigger our operations,” stated Amit Kumar, chief govt officer of NoBroker.Com. “Our objective is to boost up customer and deal-closure increase and maintain to supply fee to customers throughout u . S .. We will even spend money on our home keep and monetary offerings product.”
The startup changed into based in 2013 through Indian Institute of Technology (IIT) graduates Akhil Gupta, Amit Agarwal, and Saurabh Garg. NoBroker claims to have registered extra than 2.Five million properties on its platform, with 6 million individuals availing of the portal’s offerings.
The firm additionally released the Home Store, which is a one-prevent save for services which include loans, packers and movers, felony documentation, among others.
In its preceding investment rounds, NoBroker.Com had raised $10 million in its Series B investment spherical from Bee next, Buenos and other buyers in 2016 and secured $three million from SAIF Partners and Fulcrum Capital in 2015.
VCCircle had stated earlier this week that NoBroker had raised Rs 17 crore ($2.4 million) in project debt from Trifecta Capital.
US-based General Atlantic’s wager on NoBroker comes on the heels of its recent huge-price ticket funding in ed-tech company Byju’s.
The PE firm has been running in India on the grounds that 1999. It has approximately a dozen investment specialists in India and focuses on sectors which include financial offerings, internet, and technology, commercial enterprise services, retail, customer, and healthcare.
Deals in the belongings-tech section
In the current past, numerous online ventures catering to the real estate sector have either raised sparkling investment or attracted takeover hobby.
A week ago, Bengaluru-based Zaasna Proptech Pvt. Ltd raised Rs 2 crore ($286,000) in a seed investment spherical from buyers along with mastering platform Udacity chief running officer Lalit Singh and Microsoft worldwide aid leader Sanjay Sharma.
Last month, Bengaluru-based online home condo startup Nestaway Technologies Pvt. Ltd raised $10 million (around Rs 70 crore) in a fresh round of funding co-led with the aid of present investors Tiger Global and Chiratae Ventures (previously IDG Ventures).
Elara Technologies Pte. Ltd, the proprietor of assets portals Housing.Com, Makaan.Com, and PropTiger.Com, announced in April that it had obtained domestic apartment startup FastFox.Com.
In May remaining 12 months, FastFox had received property and dealer review platform Roofpik for an undisclosed quantity.
VCCircle suggested late final year that Monet, a platform that we could customers seek and price actual property sellers as well as proportion their needs with property dealers, turned into in talks to raise Series A investment from rich people and builders.
Before that, Delhi-primarily based domestic rental services marketplace ZiffyHomes had received peer Nivaasa. And in February that 12 months, it offered rival Fella Homes.