Tiger Global leads fresh funding in realty listing site NoBroker

Brokerage-free real estate listing platform NoBroker.com said on Tuesday that it has raised $50 million ( ₹356 crore) in Series D funding in a round led by Tiger Global Management.

Existing investor General Atlantic also participated, the company said in a statement.

With the latest round of funding, NoBroker.com has raised $121 million so far, said the company, which operates in Mumbai, Bengaluru, Pune, Chennai, Hyderabad and Gurugram.

More than three million properties are registered on NoBroker.com, and more than seven million people have used its services, which include solutions for all segments of real estate transactions such as rental, sale and value added services, according to the company.

“The current funding will help us provide the service to more customers across the country and accelerate our deal closure growth. We will continue to add value across the user journey with continuous refinement of our home store and financial services products,” said Amit Kumar Agarwal, chief executive officer and co-founder of NoBroker.com.

“We are using machine learning and artificial intelligence to make transactions faster and low-cost for the end user. We are also bringing technology to financial transactions involved in real estate,” said Akhil Gupta, chief technology officer and co-founder of NoBroker.com.

Last month, the company did “more than ₹100 crore of rent payment transactions through the platform”, he said over the phone.