Inside NoBroker's success story

Good Morning,

Saurabh Garg started NoBroker in 2014 after being unable to find a house that didn't require him to pay brokerage on classifieds and rental platforms. 

He, along with Amit Kumar Agarwal and Akhil Gupta, was inspired by how consumer internet platforms such as BookMyShow had eased movie ticketing and MakeMyTrip had eased travel booking.

“Nowhere in the world people pay for real-estate transactions upfront, but we thought if the customers and the home owners like our product, they will pay,” Amit Kumar Agarwal, Co-founder and CEO of NoBroker.com, told Shradha Sharma, Founder and CEO of YourStory Media, at TechSparks 2021, India's most influential startup-tech conference hosted by YourStory.

So far, NoBroker has raised $150 million from investors like General Atlantic, Tiger Global and others. The platform has also tied up with banks to enable payment of rent using credit cards, which will earn them extra credit and rewards.

Akhil also added that the platform also relies on technology to drive some of the other services, such as predicting the rent of a place for owners and suggesting other areas nearby within budget for potential tenants.

Check out YourStory's full coverage of TechSparks 2021 here.

Click here to download YourStory’s Tech50 report.

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News & Updates

• More than 2.2 million Indian accounts were banned by WhatsApp while 560 grievance reports were received by the messaging platform in September, according to its compliance report.

• The initial share-sale of FSN E-Commerce Ventures Ltd, which runs an online marketplace for beauty and wellness products Nykaa, was subscribed 81.78 times on the last day of subscription, mainly helped by huge interest from institutional investors.

• Logistics unicorn Delhivery has filed for an initial public offering (IPO) to raise up to Rs 7,400 crore, filings with the Securities and Exchange Board of India (SEBI) reveal. The IPO will consist of a fresh issue of shares worth Rs 5,000 crore and an offer for sale of Rs 2,460 crore.

• Coinbase, the US-based cryptocurrency exchange, has acquired Bengaluru and New York-based Agara Labs, an AI-powered conversational technology startup, for an undisclosed value.

• Ride-hailing platform Uber said it has undertaken various activities supporting driver-partners and their families to weather the impact of COVID-19 with a commitment of Rs 100 crore towards these programmes.

Before you go, stay inspired with… 

“I choose people first and businesses later. Companies succeed because you back phenomenal founders.”

— Priya Mohan, Investor, Venture Highway

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