NoBroker Becomes First Proptech Unicorn
The platform has raised $210 million in Series E funding
NoBroker.com, a tech-based real estate platform, has raised $210 million in Series E funding. With this, it has now become the first proptech Unicorn in India.The round was led by General Atlantic, Tiger Global Management and Moore Strategic Ventures.
With its zero brokerage facility, the platform has made the process more convenient and affordable for customers. It currently operates across six cities: Bangalore, Chennai, Delhi-NCR, Hyderabad, Mumbai and Pune.
“Focused execution with a customer-first mindset works well for the platform. In the future, NoBroker’s products will also find relevance in several under-regulated developing markets around the world. We are excited to be part of NoBroker’s continued success,” said Shantanu Rastogi, managing director of General Atlantic, in a statement.
More than 75 lakh properties are already registered on the portal. The platform has over 1.6 crore users, said the statement.
“NoBroker is building India’s largest one-stop shop for all real estate needs. The latest round of funding will help us build our technology prowess and invest in our home and financial services. We use machine learning and artificial intelligence to make the entire process hassle-free,” said Akhil Gupta, co-founder and chief technology officer at NoBroker.com.
NoBroker.com is a tech-based brokerage-free real estate platform that makes real estate transactions seamless and efficient. With more than 1.5 crore registered users across Bangalore, Mumbai, Pune, Chennai, Hyderabad and Delhi -NCR, it is the world’s largest P2P real estate platform, added the statement.