India’s leading networking and communication solution provider to real estate agents, broker property agent and dealer, PlaBro Networks Private Limited announced raising $350,000 from Flipkart Co-founders Sachin Bansal and Binny Bansal; Sol Primero, an early stage investments firms; Outbox Ventures and Sangram Singh, an angel investor and Founder, Ultra Drugs Private Limited. This is the first round of funding for the start-up. The venture will use the funds to create a stronger networking ecosystem and widen footprint across the country.
Announcing the fund-raising, Pankaj Garg, Co-founder, PlaBro Networks, said, “We are thankful to our investors for their faith in our idea. We plan to cover all metros and major cities in India within the next one year. These funds will give a fillip to our plan to grow geographically and strengthen our infrastructure.”
Commenting on the investment, Binny and Sachin expressed hope of better future for real estate with PlaBro coming into the picture. “PlaBro Networks has the promise of changing the real estate landscape with its innovative ideas. I am sure that real estate agents, who are an inherent stakeholder in the real estate sector, will benefit tremendously from the application.”
PlaBro is co-founded by Pankaj Garg and Aaditya Jain. Garg, graduated from IIT Delhi carries experience of more than 10 years of working with data, analytics and search tools. He was earlier with American Express as Research Manager at Big Data Labs. Prior to that, he worked as technical head at Veveo. Whereas, Jain did his PGDM in Finance and Marketing from IIM, Kozhikode. Prior to founding PlaBro, he worked with the companies like Tata Consultancy Services, SAIL and Yash Birla Group.
The real estate start-up in the country operates through a mobile application called PlaBro. It is a first of its kind in India offering an engagement platform for real estate brokerage firms, property agents and property dealers to connect, network and share information relating to real estate, housing, commercial properties etc. The app aims to bridge the gap in the real estate sector so that agents and dealers can share information pertaining to lease, sale, purchase, rent and other accommodation for commercial purpose. The seamless networking between real estate intermediaries also helps real estate developers since there is a faster off-take of inventory and end users as they are able to choose from a wider pool of properties.
“Our mobile application has generated the desired interest in the market and we are going to add new features very soon to give a seamless user experience. We are also in the process of adding data analytics and business insights that will support the knowledge base of customers,” elaborates Aaditya Jain, Co-founder, PlaBro Networks.
While Magicbricks.com and 99acres.com are consumer facing mobile apps, PlaBro focuses on the real estate brokerage community. Currently, PlaBro’s services are available in the Delhi NCR region. However, very soon, they plan to expand pan India for all real estate dealers and property agents.
Sharing his confidence in PlaBro, Niraj Singh, Founder, Myspinny.com, who is also one of Founding Partners at OutBox Ventures, said, “PlaBro is doing that nobody has thought of so far i.e. organising the real estate brokerage business. We are sure that company will add value to the real estate industry through its application, features and services.”