Online real estate rental platform NoBroker.com recently announced that it has raised $30million in Series D funding round by General Atlantic. Reportedly, this is the third investment by the Singapore-based Venture Capitalist firm in the startup.
The company said this is an extension of its Series D funding, as part of which it had raised $50 million in October 2019. The previous round was led by Tiger Global, and General Atlantic had also participated.
With the new funding, the company plans to further invest in their financial services to make it accessible to more people.
Earlier in February, the startup had acquired society management platform Society Connect in an all-cash deal to strengthen its own society management app NoBrokerHood.
So far the company has raised $151million from investors. The Bengaluru-based company claims to have more than 35lakh properties registered with it in six cities — Mumbai, Bengaluru, Pune, Chennai, Hyderabad and Delhi-NCR.
Commenting on the investment, Shantanu Rastogi, Managing Director, General Atlantic said, “NoBroker’s service and product innovations to improve choice, reduce transaction costs, enhance transparency and deliver convenience are driving significant organic listings and subscriptions on its platform. NoBroker Pay, NoBroker Hood, NoBroker Home Services and several such innovations are deepening the engagement of owners, tenants, buyers and community residents with its platform, making it a go-to destination beyond its core offering of rental and sale transactions.”
“We have been tripling our revenue every year and this funding will help us further improve user experience and enable faster deal closures. We will continue to add value across the user journey with continuous investment in our home store and NoBrokerHood,” said Amit Kumar, CEO, and co-founder of NoBroker.com.
“This funding will help us expand to new cities and also go deeper in the existing cities and service more customers. We will also invest further in our sales vertical,” said Saurabh Garg, CBO and co-founder of NoBroker.com.
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