Proptech start-up NoBroker enters unicorn club with $210 mn funding
Property tech start-up NoBroker has raised $210 million in its Series E round led by General Atlantic, Tiger Global Management and Moore Strategic Ventures, the company said on Tuesday. This round of funding brings the total funding raised by NoBroker to $361 million.
The online platform allows customers to carry out all aspects of real estate transactions digitally, ranging from rental or outright sale to value added services like home loans, packers and movers, legal documentation, online rent payment, among other things.
It currently operates across six cities: Bangalore, Chennai, Delhi-NCR, Hyderabad, Mumbai and Pune. More than 7.5 million properties are already registered on the portal and more than 16 million individuals have used the platform’s services.
The company was launched in 2013 and raised a seed round led by Elevation Capital. “ We have signed 10,000 societies till now and the objective would be to aggressively grow and reach 100,000 societies in the next two years,” said Amit Agarwal, co-founder and chief executive officer of NoBroker.com.
“The current funding will help us reach out to more customers across current and new cities and help us streamline the entire real estate journey from search to shifting into your house to even manage your society living seamlessly with the help of technology,” said Saurabh Garg, co-founder and chief business officer of NoBroker.com
“We are seeing an upward trend in the property buying segment and this funding will help us deepen our investments in resale and primary sale verticals”, he added.
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