Proptech Startup NoBroker Raises $5 Million From Google
The Unicorn Proptech startup NoBroker raises $5 mn from google, which join the roster of previous investors that also includes General Atlantic, Tiger Globa, and Moore Strategic Ventures.
The company claims that the funds raised will be used to expand its customer base across existing and new cities and to leverage technology to simplify every step of the real estate process, from searching for properties to moving them and managing society.
NoBroker has previously raised $210 million from investors General Atlantic, Tiger Global, and Moore Strategic Ventures as part of its Series E investment.
In 2020, CEO Sundar Pichai announced that, “The Google investment is a component of the company’s $10 billion India Digitization Fund”.
Akhil Gupta, Amit Kumar Agarwal, and Saurabh Garg launched NoBroker, a company that provides services ranging from renting to buying to selling homes to financial and society management needs.
With a focus on expanding NoBrokerHood, we will use the cooperation with Google to offer some distinctive solutions. A tremendous testament to the product we have built, according to Akhil Gupta, co-founder and chief technology and product officer of NoBroker.com, this is Google’s first investment in proptech in India.
The cash will enable us to increase our investments in the resale and primary sale verticals as we observe an increased trend in the property buying segment. Those who wish to rent or buy homes in gated communities are in greater demand. This agreement will enable us to accomplish our mission of improving society living for people at a faster rate, according to Saurabh Garg, co-founder and chief business officer of NoBroker.com.
It is noteworthy that the business has a zero brokerage business model and provides value-added services like packers and movers, legal paperwork, house loans, and online rent payment, among others.