NoBroker secures series A funding and becomes a unicorn startup.
Land leasing and purchasing stage, NoBroker, on Tuesday said it has raised $210 million as a piece of its Series A financing round led by General Atlantic, Tiger Global Management, and Moore Strategic Ventures.
The round qualifies NoBroker at $1.01 billion, making it the main property tech (proptech) and land startup to accomplish unicorn status. A 'unicorn' is a secretly held startup with a valuation of $1 billion or more.
NoBroker will utilize the returns from the current gathering pledges to grow its organization across 50 additional Indian urban communities throughout the following two years. It will likewise put vigorously in growing its innovation and item work.
The organization at present has nearly 150 representatives across its innovation and item works. It intends to twofold this count over the following year.
The seven-year-old startup gives a tech-based business free land stage, which permits clients to purchase and sell just as lease properties across six metros - Bangalore, Mumbai, Pune, Chennai, Hyderabad, and Delhi-NCR.
We are in a business where you can't increase 10-times inside a month by giving cashback, yet whenever you have fabricated something, no other individual can grab it from you inside a month, so fundamentally it sets aside an effort to get constructed, however whenever it is assembled, it's an extremely amazing business," said Amit Kumar Agarwal, fellow benefactor and CEO, NoBroker is communication with Mint and VCCircle.
"As far as utilization of assets, we will make our innovation group a lot more grounded, growing to 50 urban areas in the following 2-3 years, and we will forcefully put resources into our local area NoBrokerhood application," added Agarwal.
NoBroker additionally offers the executives programming, NoBrokerHood, for gated social orders. It intends to scale its essence from 10,000 gated networks to 100,000.