Homesfy.in Raises $1.1 Million From Marquee Investors

A fast-growing company in the real estate broking sector, Homesfy Realty, has raised $1.1 million from early-stage growth investors Girish Gulati, Dnyanesh Bhatavadekar, Neha Idnany, Yogesh Bagaria, and Amit Bagaria. The company is planning to list on the Indian bourses and has filed its draft red herring prospectus (DRHP) for SME IPO with NSE Emerge. The proceeds from the proposed offering will be used by the company for its working capital requirements, general corporate purpose, and organic growth, the firm said in a statement.

"We, at Homesfy, started our journey with the aim to simplify the home-buying process. With the new strengths coming in and this fund-raise, Homesfy is committed to delivering growth to its employees and investors and satisfactory services to its customers," said Ashish Kukreja, founder and CEO at Homesfy.in and MyMagnet.io.

Founded a decade ago, Homesfy is headquartered in Mumbai and has an operational presence in 4 cities in India including Pune, Bengaluru, and Delhi NCR. With team strength of nearly 400 employees, the firm partners with all reputed builders in the country to facilitate their real estate sales. It expanded to facilitate bookings totalling INR 1,650 crore on its platforms in the last financial year, claimed by the company in the statement.

"Real estate is poised to be a $1.5 trillion industry in the near future. As real estate developers consolidate market share via launches and construction velocity, they need the right partners to drive sales. Through the use of proprietary technology tools, rigorous processes, and talented sales agents, Homesfy simplifies the home-buying experience and is positioned to lead the channel partner sales for all major developers across India," said Girish Gulati, who is a veteran investor in the public equity markets.