Valion in talks to raise USD 6 mln funding for realty portal

Property consultant Valion plans to raise USD 6 million (about Rs 40 crore) for expansion of its real estate portfolio management portal.
Gurgaon-based Valion has already invested USD 2,00,000 for the development of platform and team for its portal 'myfollo', which was launched today.
"We are planning to raise USD 6 million as first pre- series funding. We are in discussion with potential investors," Valion CEO and founder Amit K Lalit told reporters here today.
Valion, which is managing the real estate portfolio of the high net worth individuals (HNIs) from last year, has launched the portal to expand their reach to the middle-income group.

Myfollo has been launched for the NCR region and would be taken to the top eight cities of the country in a phased manner.
The portal would manage real estate portfolios online and would execute investments, disposition, advisory, lettings and residential property management for its online users.

Post registration on the portal, the website will automatically calculate the total net worth of the individual, give alerts, notifications and will give recommendations on all assets.
Valion has over 1,100 HNIs clients across Singapore, Jakarta, Delhi, Mumbai, Hyderabad and Chennai. It manages over Rs 4,000 crore of assets for these HNIs.
For managing the properties, mostly for NRI clients, Valion has formed a company PropCare which manages 46 properties in Delhi, Bangalore and Mumbai.