Real Estate Startup Method & Madness Technology Raises $2 Mn In Seed Round
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Technology-based and consumer-centric real estate buying platform, Method & Madness Technology Pvt Ltd, on Wednesday announced to have raised $2 million of capital with a post-money valuation of $12 million. The investment round was led by dating app Tinder founder Justin Mateen and counts various other blue-chip Silicon Valley investors amongst its cap table.
The funds raised will be used to set up and establish the platform which aims to digitize the real estate market in India in a way that is convenient for a first-time and experienced buyer alike and is in sync with our growing digital economy.
“It’s been an amazing journey so far. Our mission is to push the real estate industry forward and disrupt the age-old cumbersome processes of home buying. We want to democratize inventory and provide perfect information and transparency to the homebuyer. We are hence building our product with the hearts and minds of the consumers as central to our philosophy. This fundraise will enable us to develop an end-to-end digital platform and completely change the experience of the homebuyer,” said Aditya Jhaveri, founder, and chief executive officer, Method & Madness Technology.
The tech-enabled, fully integrated online system would allow buyers to browse perfectly verified inventory, directly listed by developers.
Using data science and proprietary algorithms, the company will also allow clients to compare properties fairly, and price transparency will lead to higher transactions in the industry.
The digital products will also allow customers to schedule site visits with sales experts. After home selection, the platform will enable customers multiple digital facilities for processes such as paperwork with developers, stamp duty payments, home loan assistance, and registration of the property, all as part of one home buying experience through one platform, in a seamless manner with full online and offline capability and functionality, the statement said.
“The stage is set perfectly for Aditya and our new company to disrupt the home buying process and solve a fundamental problem that the real estate industry has been trying to tackle, not just in India, but also across the globe. By completely digitizing the real estate ecosystem, the company will align with PM Modi’s efforts to build a ‘digital India’ and transform the way Indians buy homes,” added Justin Mateen, investor, and founder, Tinder.
Mumbai-based real estate developer with ten years of experience as a real estate broker and developer and most recently as co-founder and CEO, Satellite Builders Pvt Ltd., the venture is attempting to build the biggest inventory of homes in India, directly from developers onto its platform. In addition, it is building a fully integrated online to the offline system to make real estate transactions seamless, rather than painful as they presently are.