Proptech startup NoBroker has raised additional funding of Rs 40 crore in an extended Series E round led by Google, joining the list of existing investors, including General Atlantic, Tiger Globa, and Moore Strategic Ventures.
According to the company, the raised capital will be utilized to reach out to more customers across current and new cities and use tech to streamline the entire real estate journey—from search to shifting houses to managing society.
Prior to this, NoBroker had raised $210 million as part of its Series E round from investors — General Atlantic, Tiger Global, and Moore Strategic Ventures.
The investment from Google is part of its $10 billion India Digitization Fund, which was announced by CEO Sundar Pichai in 2020.
NoBroker, which was founded by Akhil Gupta, Amit Kumar Agarwal, and Saurabh Garg, caters to property-related needs from renting, buying, selling, home services, financial services to society management services through NoBrokerHood.
“We will leverage the partnership with Google to build some unique solutions, with a focus on growing NoBrokerHood. This is the first proptech investment by Google in India, and is a great testimonial to the product we have built,” Akhil Gupta, co-founder and chief technology and product 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. We have seen increasing demand for people wanting to rent and buy houses in gated communities. It is an opportune time to build solutions that would elevate society living experience for residents and this partnership will help us achieve this goal faster,” said Saurabh Garg, co-founder and chief business officer at NoBroker.com.
Notably, The company operates in a zero brokerage model and also offers value-added services such as packers and movers, legal documentation, home loans, and online rent payment, among others.
Source @Indianstartupnews
