Bengaluru: Real estate platform NoBroker.com has raised $30 million as part of its Series D funding, in a round led by private equity firm General Atlantic. The company said this is an extension of its Series D funding, as part of which it had raised $50 million in October 2019. That round was led by Tiger Global, and General Atlantic had also participated.
NoBroker has raised $151 million so far from investors. The Bengaluru-based company said that more than 35 lakh properties are registered on its platform and it operates in six cities -- Mumbai, Bengaluru, Pune, Chennai, Hyderabad and Delhi-NCR.
In February, NoBroker acquired society management and ERP solutions company Society Connect in an all-cash deal, to strengthen its visitor and society management app, NoBrokerHood.
"NoBroker's service and product innovations to improve choice, reduce transaction costs, enhance transparency and deliver convenience are driving significant organic listings and subscriptions on its platform. NoBroker Pay, NoBroker Hood, NoBroker Home Services and several such innovations are deepening the engagement of owners, tenants, buyers and community residents with its platform, making it a go-to destination beyond its core offering of rental and sale transactions," said Shantanu Rastogi, Managing Director, General Atlantic.
"We have been tripling our revenue every year and this funding will help us further improve user experience and enable faster deal closures. We will continue to add value across the user journey with continuous investment in our home store and NoBrokerHood," said Amit Kumar, CEO and co-founder of NoBroker.com.
"This funding will help us expand to new cities and also go deeper in the existing cities and service more customers. We will also invest further in our sales vertical," said Saurabh Garg, CBO and co-founder of NoBroker.com.
Akhil Gupta, CTO and co-founder of the company, added that they will further invest in their financial services to make it accessible to more people.
The statement added that the company is adding more than 350,000 new users every month.