[Funding alert] Real estate startup Method & Madness raises $2M led by Tinder founder Justin Mateen
Mumbai’s technology-based and consumer centric real estate buying platform, Method & Madness Technology Pvt Ltd, has raised $2 million in seed round of funding with a post-money valuation of $12 million from Silicon Valley investors.
The investment round was led by Justin Mateen, Founder of popular dating app, and counts various other blue-chip Silicon Valley investors amongst its cap table.
The funds raised will be used to set up and establish the platform, which aims to digitise the real estate market in India.
Founder and CEO Aditya Jhaveri said,
“Our mission is to push the real estate industry forward and disrupt the age-old cumbersome processes of home buying. We want to democratise inventory and provide perfect information and transparency to the homebuyer. We are hence building our product with the hearts and minds of the consumers as central to our philosophy. This fundraise will enable us to develop an end-to-end digital platform and completely change the experience of the homebuyer.”
Founded by Aditya Jhaveri, who is having 10 years of experience as a real estate broker and developer and most recently as the co-founder and CEO of Satellite Builders Pvt Ltd, the tech-enabled, fully integrated online venture allows buyers to browse verified inventory, directly listed by developers.
Using data science and proprietary algorithms, the company said it will also allow clients to compare properties fairly. The digital products will also allow customers to schedule site visits with sales experts. After home selection, the platform will enable customers multiple digital facilities for processes such as paperwork with developers, stamp duty payments, home loan assistance, and registration of the property, all as part of one home buying experience through one platform, in a seamless manner with full online and offline capability and functionality.
The venture claims that it is attempting to build the biggest inventory of homes in India, directly from developers onto its platform.
“The stage is set perfectly for Aditya and our new company to disrupt the home buying process and solve a fundamental problem that the real estate industry has been trying to tackle, not just in India, but also across the globe. By completely digitising the real estate ecosystem, the company will align with PM Modi’s efforts to build a “Digital India” and transform the way Indians buy homes,” added Tinder Founder Justin.