NoBroker real estate platform gets $210 million funding and unicorn status. After the latest funding, the property-tech company stands at $361 million. Moor Strategic Ventures, Tiger Global Management, and General Atlantic were among the investing partners.
NoBroker has a zero brokerage policy. The company hosts many value-added services such as legal documentation, home loans, packers and movers, online rent, along with regular rent and sale property transactions.
Saurabh Garg, Akhil Gupta, and Amit Kumar Agarwal co-founded the company in 2013. It has operations in all major metro cities like Bengaluru, Hyderabad, Delhi-NCR, Pune, and Mumbai. The portal hosts around 75 lakh properties, and more than 1.6 crore people have used the platform until now.
Akhil Gupta- the Chief Technology and Product Officer of NoBroker, said that they use AI and machine learning to make the transactions economical. He said the funding would help them invest more in their financial and home services sector and its NoBrokerHood product, a community app and marketplace. Around 10,000 societies are successfully using NoBrokerHood, and they aim to take this number to 1 lakh in the coming two years.
Saurabh Garg- the Chief Business Officer of NoBroker, said the unicorn status had been an achievement for them. They will expand their operations in other cities and streamline the real estate journey with additional funding. He further talked about increasing investments in the primary sale and resale property divisions.