NoBroker turns India's first proptech unicorn

BENGALURU: Tech-based real estate platform NoBroker.com has turned a unicorn after the latest $210 million funding. The platform has become the first Proptech unicorn in the country. With the latest funding round, NoBroker’s total funding stands at $361 million. The round was led by General Atlantic, Tiger Global Management and Moore Strategic Ventures.

With its zero brokerage USP, NoBroker.com operates across aspects of real estate transactions from rental or outright sale to value added services like home loans, packers and movers, legal documentation and online rent payment, among others.

Founded by Akhil Gupta, Amit Kumar Agarwal, and Saurabh Garg, NoBroker.com was launched in 2013. It currently operates across Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai and Pune. More than 75 lakh properties are already registered on the portal and more than 1.6 crore individuals have used NoBroker services.

“The latest round of funding will help us further build our technology prowess and further invest in our home services and financial services. We use machine learning and artificial intelligence to make the entire process hassle-free and transactions economical for the end user,” said Akhil Gupta Co-founder and Chief Technology and Product Officer at NoBroker.com.

“One of the key uses of this fund-raise will be to invest in NoBrokerHood, our community app and marketplace. We have signed 10,000 societies till now and the objective would be to aggressively grow and reach 1 lakh societies in the next two years,” said Amit Agarwal, Co-founder and Chief Executive Officer of NoBroker.com.

“The unicorn status is a big pat on our backs. The current funding will help us reach out to more customers across current and new cities and help us streamline the entire real estate journey. 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 the new unicorn NoBroker.com.