 "Bengaluru-based real estate start-up NoBroker raises $30 mn")
Online real estate and rental start-up NoBroker has raised $30 million in a round, led by General Atlantic. This is an extension to their Series-D funding round of $50 million in October last year which was led by Tiger Global.
The Bengaluru-based start-up will use this funding to expand to new cities while going deeper in the existing markets and service more customers. It will also invest further in technology and its sales vertical.
“NoBroker's service and product innovations to improve choice, reduce transaction costs, enhance transparency and deliver convenience are driving significant organic listings and subscriptions on its platform. Its innovations are deepening the engagement of owners, tenants, buyers and community residents with its platform making it a go-to-destination beyond its core offering of rental and sale transactions,” said Shantanu Rastogi, managing director, General Atlantic.
Ranging from rental, sale or resale to post transaction services like loan, packers and movers, legal documentation, online rent payment, interiors, NoBroker offers a bouquet of real estate services.
It recently launched its operations in Delhi-NCR in November 2019 and currently operates across six cities including Mumbai, Bengaluru, Pune, Chennai, Hyderabad and Delhi-NCR. It had acquired society management and ERP solutions company Society Connect in an all-cash deal in February this year to strengthen its visitor and society management app NoBrokerHood.
“NoBroker is making the entire real-estate transaction journey seamless with the help of technology. The huge amount of data we generate on the platform helps us to use Machine Learning and Artificial Intelligence leading to faster closures and customise offerings for every customer. The support provided to us by our investors is a testimonial to our ongoing tech innovation,” said Akhil Gupta, CTO and Co-Founder of NoBroker.com.
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