NoBroker recently did a $210M Fundraise
Paying brokerage on classifieds and rental platforms is a norm while finding a house to live in.
But what if you don’t want to do that and ease out the
buying, selling, and renting of properties:
simpler, transparent, and affordable?
You go on and build a platform of your own that does that!
That’ exactly what Akhil Gupta, Amit Agarwal, and Saurabh Garg did in the year 2014
when they founded NoBroker.
NoBroker is one such platform that connects house/property owners & tenants/buyers directly by eliminating the middleman.
Their mission is to lead India’s real estate industry towards an era of doing real estate transactions in a convenient and brokerage-free manner.
NoBroker addresses the gaps that an Indian homebuyer faces in the real-estate market. The platform also provides personalized recommendations and assistance with decision-making based on real-time data.
Not only this but their array of services also include:
- Verified brokerage-free properties for buyers & tenants (Relationship Managers to assist you through the process)
- Quality brokerage-free tenants & buyers for property owners
- Online rental agreements
- Packers & Movers services
- Home Services like painting, cleaning etc.
- Home Loans
- Dedicated services for NRI customers and CPMS
- Furniture & Interior Decoration
- NoBrokerHood a visitor, society, & accounts management software for apartment
NoBroker has helped the Indian Homebuyers to save more than INR 5000 Cr in brokerage
till date. It is the world’s largest P2P real-estate platform with over 1.6 Cr registered users
using it regularly.
NoBrokerHood, its community management app has over 10,000 societies on it across Bangalore, Mumbai, Pune, Hyderabad, Chennai, Delhi – NCR, Kolkata, Ahmedabad, Nagpur, Jaipur, and Kochi.
Some important growth statistics of the company are :
- NoBroker’s main source of operating revenues comes from the sale of its subscription plans, which is responsible for making up around 44% of the operating revenues. The total revenue collected from its subscription plans also saw a growth of 98.3%, from Rs 14.02 crore in FY19 to Rs 27.8 crore in FY20.
- Moreover, the income of the company from the rental agreement and subletting also witnessed a growth of around 156.2% to Rs 3.1 crore. NoBroker also earns fees by generating leads for the real estate developers. This income also grew by 128.6% to Rs 3.2 crore during FY20.
- NoBroker also saw a rise of around 4.5X in the income that comes from its financial assets. This rose from Rs 3.6 crore in FY19 to over Rs 16 crore during FY20.
Funding & Investors
So far the company has raised a sum of $360 million to date.
In their recent Series E funding round led by General Atlantic, Tiger Global and Moore strategic ventures, dated November 23, 2021, they have raised a sum of $210 million. Thereby making it India’s first proptech (property tech) unicorn startup and the 38th Indian startup to be a unicorn in 2021.
Founder & CEO, Amit Kumar Agarwal, recently said,
“ When we launched 7 years back, non-brokerage was unproven and ‘not-inspired-from-US-China’. Today NoBroker has 1.6 crore (16 million) cumulative
customers with a booming network effect.
With tripling of revenue every year, NoBroker is a clear #1 in Indian real estate with an aim for leadership in home-services and property-financial services. We have been blessed with the passion of our astounding team who have helped us focus on customers every day and made us feel that we have 50 co-founders in NoBroker.”
NoBroker aims to expand to 50 cities across the country within the next 2-3 years.
It is Onwards and Upwards for them, as they say!
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