Flipkart founders, others invest $350,000 in realty start-up Plabro
The Gurgaon-based start-up has recently launched a mobile application 'Plabro' to connect property brokers and help them in closing the deals quickly
New Delhi: Plabro Networks Pvt. Ltd., which provides an online platform for real estate brokers, property agents and dealers to rent or sell the properties, on Thursday said it has raised $350,000 from Flipkart co-founders Sachin Bansal and Binny Bansal, early stage investments firms Sol Primero and Outbox Ventures and angel investor Sangram Singh.
This is the first round of funding for the company.
Plabro offers a mobile application called Plabro that acts as a connectivity platform for real estate intermediaries, enabling them to crack deals efficiently and quickly. Consumers get to choose from the inventory pool shared among brokers, agents and other intermediaries.
The company plans to use the funds to create a stronger networking ecosystem and widen its reach. It will also integrate data analytics and business insights on the platform so that the real estate dealers can gauge the market trends.
The company aims to cover all metros and major cities in India within next one year, said co-founder Pankaj Garg adding that the funds will give a fillip its plan to grow geographically while strengthening the infrastructure.
Investors see the Plabro model as a scalable one with demand rising for online real estate companies.
“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.
“Our prime focus is on supporting emerging businesses that have the potential to scale up quickly. Plabro has tremendous scope of becoming a big innovator in the age of start-ups,” said Shweta Singh, co-founder and managing partner of Sol Primero.
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First Published:17 Sep 2015, 06:17 PM IST
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