Property consultant Valion plans to raise Rs 40 crore
The funding will be used to launch its realty portal
"We are planning to raise $6 million as first pre- series funding. We are in discussion with potential investors," Valion CEO and founder Amit K Lalit said.
Valion, which has been managing the real estate portfolio of the high net worth individuals (HNIs) for 10 years, has launched the portal – myfollo -- to expand their reach to the middle-income group.
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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.