NoBroker had recently closed their Series C funding round of $51 million in June 2019 which was led by General Atlantic.
NoBroker has raised USD $50 million in Series D Funding. This brings the total funding raised by NoBroker to USD $121 million. The round was led by Tiger Global Management and included participation from existing investor General Atlantic. NoBroker.com is seeking to improve user experience in the real estate industry by making transactions more convenient and affordable. More than 30 lac properties are already registered on NoBroker and more than 70 lac individuals have used NoBroker services.
Scott Shleifer, Partner, Tiger Global Management said “NoBroker Team has built a tech-driven C2C business to make residential and commercial real estate transactions convenient and affordable. We have been extremely impressed by the strength of the NoBroker team and their relentless focus on using technology to solve end-to-end transactions in the large real estate market in India.”
NoBroker is an integrated platform where a customer can seamlessly find solutions for all parts of the journey in a real estate transaction ranging from rental or outright sale to value added services like loan, packers and movers, legal documentation, online rent payments; which are provided by NoBroker Home Store.
NoBroker recently launched its operations in Hyderabad in August 2019 and currently operates across six cities: Mumbai, Bangalore, Pune, Chennai, Hyderabad and Gurgaon.
NoBroker is augmenting customer experience in the real estate industry with the help of technology. We are using machine learning and artificial intelligence to make transactions faster and low cost for the end user. We are also bringing technology to financial transactions involved in real estate. The support provided to us by our investors is a testimonial to our ongoing tech innovation.
Focus on creating a seamless experience for the customers has ensured that NoBroker has gained strong traction in its current cities of operations and the business is currently adding more than 280,000 new users every month.
It is focused on building India’s largest real estate technology platform that makes a real estate transaction affordable and seamless. This current funding provide the help NoBroker reach out to more customers across the country and also accelerate deal closure growth.
This funding is a testimonial to the confidence that global investors like Tiger Global are showing in the NoBroker model. It is a unique model that has been designed for an Indian problem and already seeing a huge traction. We will use these funds to expand into new cities and go deeper in the existing cities. We would also be investing more in our sales vertical.”