Real estate aggregator NoBroker, which provides a platform for buying, selling and renting out properties, is the latest startup to join the unicorn club with a valuation crossing $1-billion.
Almost a decade old NoBroker pulled in $210 million in a Series E round led by Tiger Global, General Atlantic and Moore Strategic Ventures. The company plans to use these latest funds to spread its business across 50 cities, a top company official said on Tuesday.
NoBroker has raised funds worth $361 million to date from marquee investors like Vijay Shekhar Sharma, serial investor Anand Chandrasekaran, BEE NEXT, Elevation Capital amongst others.
From renting and purchasing to home services, financial services, and society administration, the Bengaluru-based organisation offers a one-stop-shop for all property-related needs. More than 75 lakh properties have been registered on the site, and over 1.6 crore people have utilised it.
“We are currently present in six cities and want to expand to 50 cities, including Kolkata and Ahmedabad, in the next two years. We would be investing in products and technology to offer more services to our customers such as buy and sell, financial services including home loan and insurance businesses. We also intend to increase the base of our NoBrokerHood society management platform from around 10,000 societies to 100,000 societies,” Akhil Gupta, co-founder and chief technology officer at NoBroker.com told Moneycontrol.
“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 further told, “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.