202123 Nov

NoBroker Raises Around Rs 1,575 Crore To Become India's First Proptech Unicorn

Summary

Real-estate platform NoBroker.com has raised $210 million (Rs 1,575 crore) in a round led by General Atlantic, Tiger Global Management and Moore Strategic Ventures at a $1-billion valuation, to become India’s first unicorn in proptech. It will use this latest fund to expand its business across 50 cities, a top company official said on Tuesday. More than 75 lakh properties are registered on the portal and more than 1.6 crore individuals have used its services. “We are humbled by the confidence shown to us by global investors such as General Atlantic, Tiger Global and Moore Capital,” said Amit Agarwal, co-founder and chief executive officer of NoBroker.com. Agarwal added, “One of the key uses of this fund-raise will be to invest in NoBrokerHood, our community app and marketplace.” “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,”said Saurabh Garg, co-founder and chief business officer of NoBroker.com

Source: Moneycontrol

Classifications

Companies