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Prop-tech Startup HouseEazy Raises $7 Million in Funding from Chiratae Ventures, Others

Delhi / August, 2024: HouseEazy, a full stack marketplace for resale homes, has raised $7 million in Series-A funding. This round was a mix of equity and debt led by Chiratae Ventures and saw participation from Alteria Capital and existing investor Antler. HouseEazy had previously raised the seed financing round 7 months back in December 2023, it said in a press release.

The funds will be utilized to fuel the organization’s growth across new geographies in NCR, strengthening brand presence, team expansion and product enhancement.

Tarun Sainani, Co-founder, HouseEazy, said, “In the primary market, the real estate developer typically serves as the anchor, but no single player was addressing all the needs of resale buyers and sellers. These transactions were traditionally conducted with multiple stakeholders, leading to inherent risks and lengthy closure times. We’ve completely re-engineered the process, enabling customers to buy or sell resale homes in under 15 days on the HouseEazy platform with 100% safety. In a short period, we’ve already served over 1,000 customers by providing a super-convenient, trustworthy, and transparent end-to-end solution”.

HouseEazy provides real-time price quote to sellers backed by a proprietary machine-learning algorithm with over 1.5 million data points. Sellers can conclude their transaction instantly at the best price thereby eliminating the need for multiple meetings and negotiations. For buyers, it provides access to exclusive, refurbished inventory that they can shortlist from the comfort of their home, with the help of cutting edge AR/VR tools like 3D walkthroughs and virtual staging. The platform also offers mortgage, legal and registry facilitation services that makes it a one-stop shop for all resale customers.

Deepak Bhatia, Co-founder, HouseEazy, said, “We have already hit a GMV ARR of Rs. 425 Cr, and expect to hit Rs. 1,800 Cr GMV ARR in the next 15-18 months from the NCR market alone. Our assetlight model and quick turnarounds backed by a 2000-strong channel partner base have enabled us to scale rapidly across markets. The potential of this business is to become bigger than many panIndia developers, as the secondary market is 2x that of primary, with very little competition and a deep customer need gap that is consistent across geographies.”

The company already has strong presence in the cities of Noida and Ghaziabad, and has now entered the Gurgaon region. It further plans to expand its presence in tier 1 cities like Pune, Mumbai and Bangalore, and aims to become India’s biggest and most loved home resale platform.

Anoop Menon, ConsumerTech Sector lead at Chiratae Ventures, said, “The $90 billion secondary real estate market, which is completely unorganized and fragmented, is ripe for disruption. No platforms in the past have been able to address the pricing black box, timeline uncertainty and scattered inventory issues that have plagued the home resale market for decades. HouseEazy, with its unique model and vast founder experience, has built an end-to-end solution with exclusivity on supply and distribution. The company has shown significant traction in a short span of time, and we are excited to partner with them as they create the go-to destination for pre-owned home transactions in India.”