Real estate portal CommonFloor raises Rs 64 cr equity

Real estate portal CommonFloor.Com has raised Rs 64 crore from private equity investors Accel India and Tiger Global for its business expansion.
The Bangalore-based portal had also raised Rs 45 crore in July last year from these two investors.
In a statement, the company said it has "raised Rs 64 crores in a new round of funding. This Series D funding has been raised from existing investors, Accel India and Tiger Global, with Tiger Global leading the round".
It plans to utilise the amount raised for product development, building on its research expertise in the real estate domain and to fuel growth through new marketing initiatives, the statement added.

When contacted, CommonFloor.Com Co- founder and CEO Sumit Jain said the fund raised is in the form of equity, but he declined to disclose the stake dilution.
"We have seen phenomenal growth in the past 2 years on every possible parameter. Our topline has continued to grow by over 100 per cent quarter on quarter since last year. This round by our existing investors is a vote of confidence in our vision, leadership team and business model," he said.
CommonFloor.Com has over 75,000 projects listed on their portal. It also currently has nearly 2 lakh active listings. The company has offices in 18 cities.