NoBroker grabs additional Rs 40 Cr in Series E funding; to collaborate with Google
Google and NoBroker will collaborate to enhance user experience and work towards making the entire real estate journey of a user a seamless experience.
Proptech unicorn has bagged an additional Rs 40 crore ($5 million) in Series E funding from Google, who joins existing investors General Atlantic, Tiger Global, and Moore Strategic Ventures in the fundraise.
The fresh capital will be used to reach out to more customers across current and new cities, and use tech to streamline the entire real estate journey—from search to shifting houses to managing society.
The current raise is an expansion of the startup's Series E round. In November 2021, NoBroker raised a massive $210 million and made its entry into the coveted billion-dollar valuation club.
“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 at NoBroker, adding, "It is an opportune time to build solutions that would elevate society living experience for residents and this partnership will help us achieve this goal faster,” .
As part of the funding deal, and NoBroker will collaborate to enhance user experience and work towards making the real estate journey seamless—from finding a home to living in a housing society.
“These are exciting times for the real estate industry. Demand for rent and buy are both in full swing," Amit Agarwal, Co-founder and CEO, NoBroker. "We are delighted to partner with Google in our endeavour to build products and solutions that will simplify the home search and living experience for our users.”
Founded in 2013 by Akhil Gupta, Amit Agarwal, and Saurabh Garg, NoBroker enables users to rent out brokerage-free houses, helps them move in, get home loans, avail cleaning and home painting services, pay rent, and access legal services, among others.
NoBroker launched NoBrokerHood in 2019 as a smart visitor and residential community management system. Its offerings include visitor management, financial management, home services, community management, legal verification, and more. The startup acquired Society Connect in February 2020 to integrate the financial module with its services on a single platform.
Representational image
“We are excited to collaborate with Google. One of the key areas where we’ll leverage this partnership will be to build unique solutions that help simplify the lives of the residents of NoBrokerHood societies," said Akhil Gupta, NoBroker's Co-founder, CTO, and Product Officer. "Our objective is to aggressively grow and reach 1 lakh societies in the next few years.”
NoBroker said over a crore properties are already registered on its platform. It claims to have more than 2.5 crore registered users across Bengaluru, Mumbai, Pune, Chennai, Hyderabad, and Delhi-NCR. It also operates in Kolkata, Coimbatore, Ahmedabad, Jaipur, and Lucknow.
The company is backed by marquee investors including Google, General Atlantic, Tiger Global, Elevation Capital, Moore Strategic Ventures, BEENEXT, BEENOS, and KTB Ventures.
Edited by Kanishk Singh
