Today, a home buyer’s biggest fear is getting duped while buying or renting a property. Nikesh Pravin Savla saw an opportunity here, and started Taleho to help such people own or rent a property without any fear.
Nikesh says, "Expensive authentication processes, the lack of enough data points, complex end-to-end processes with no standard regulations, and a lack of transparency are some of the pitfalls of current solutions available in the market.
Aakash Bansal, Nikesh Savla, Anuj Sunil Gupta, and Sandip Chandran together founded Taleho in February 2015. It is a home search warranty company powered by an intelligent property match algorithm. Instead of matching properties to customer requirements, its technology matches customer graph profiles (network data + requirements) to Taleho’s extensive list of verified properties. With the home search warranty, the buyer can relieve himself of the effort of closing the rent or purchase deal. It provides a dedicated property assistant with one year of support and maintenance cover. The user does not need to pay any brokerage or upfront money to any fly-by-night broker.
Taleho derives its name from the British term ‘Tally-ho’, which has its origins in fox hunting. The company believes that In India, house hunting is the biggest hunt.
The cumulative market size of real estate transactions involving brokerage in India is $6.5 billion.
The company was at pre-revenue stage earlier. In January 2016, it started generating revenue and projects, and successfully reached a revenue of Rs 10 lakh by the end of the year.
Taleho's business model is based on following two sources of revenue:
- Premium amount: Amount paid by a buyer for the home search warranty.
- Subscription: Annual subscription charges paid by a broker and builder for creating their own microsite. The site helps them in sharing customised links in a more professional manner.
Anuj has been a channel partner with all the developers in Mumbai, and he also played the role of a developer himself in Navi Mumbai. He has in-ground experience and handles the sales vertical.
Aakash has worked with AT&T in US in the product team. He handles the product and tech vertical in Taleho.
Sandip handled various channels in Citibank for home and mortgage loans. He handles the marketing vertical in Taleho
Nikesh also handled various channels for home and mortgage loans at Citibank.
Collectively, the team has more than 15 years of work experience in real estate.
Taleho has received seed funding from incubator Thinqbate Ventures.