New Delhi: Clicbrics, online real estate marketplace, on Wednesday said it has successfully raised funding of around $3 million from a stellar consortium of international and domestic investors led by former Tiger Management Lieutenant Manny Singh of Kavi Fund, New York, Peter Mann, Fund Manager at Gluskin Sheff, Canada along with a senior managing director of one of the largest Canadian pension funds and several other high profile private investors from the US and Canada.
The funds will be used to fuel Clicbrics’ expansion and growth in the Indian market.
Clicbrics, currently headquartered in Delhi, will continue to focus on tier-1 and tier-2 cities, targeting real estate markets in a bid to organize the sector.
The new investment round will enable Clicbrics to capitalize on its position as a leader in the real estate technology industry in India. Clicbrics provides digital solutions for real estate segment, focused on providing a transparent and satisfying experience for consumers. It brings sellers and customers on a common platform and empowers decision making by enabling them to interact and maintain a complete transparent journey.
Announcing the deal, Rohit Malik, founder & CEO, Clicbrics, said: “In the last few years, technology has completely changed the way India moves from point A to B, makes payments, shops groceries and even orders food. Digitalization has managed to organize these sectors to a large extent. Real estate, on the other hand is still in its nascent stage, despite having web presence for some time. Clicbrics is an online real estate marketplace aimed to change the experience of consumers and developers alike. Real estate has tremendous opportunities in India, especially after RERA, and our unique technology platform creates a win-win situation for both buyers and sellers."
Speaking about the business, Manny Singh, founder of Kavi Asset Management and former Lieutenant at Tiger Management, said: “The SaaSification of businesses is one of the most transformative secular trends in technology today, playing out globally across many different verticals. Clicbrics is the first and only company in India that is SaaSifying the real estate vertical, which is a very large and fragmented market with tremendous white space ahead. The Clicbrics team has both the real estate experience and the technical vision to win against incumbent players. By bringing brokers, customers, lenders and developers together on one secure platform, Clicbrics is effectively developing a new software ecosystem for how real estate transactions are processed in India."
Technology is a key focus area for Clicbrics which will enable further growth for the company. Powered by AI, the platform is capable of targeting home buyers according to their search parameters, be it size, location or budgets. The platform takes a data driven approach to select genuine homebuyers and builders. Clicbrics also enhances user experience by providing complete knowledge of the property before sales.