Total amount raised
$379.9 Millions
Latest funding date
Location
NoBroker has successfully raised $361 million over multiple funding rounds, with its latest being a Series E. The platform offers a brokerage-free solution for property transactions, making it a unique player in the real estate market.
Keep reading to explore the intricacies of NoBroker's fundraising journey and the investors backing this innovative platform.
What Is NoBroker?
NoBroker, founded in 2014 in Bengaluru, Karnataka, India, is a pioneering proptech company that eliminates brokerage fees in property transactions. The platform connects property owners directly with tenants and buyers, offering a range of services such as property listings, rental agreements, and property management.
The company was established by Akhil Gupta, Amit Agarwal, and Saurabh Garg. NoBroker has grown significantly since its inception, now employing between 1001 and 5000 people.
As India's first and only brokerage-free real estate platform, NoBroker continues to innovate in the property market, providing a seamless experience for its users.
How Much Funding Has NoBroker Raised?
- Series A
- Amount Raised: $3M
- Date: February 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch and establish the platform in the market.
- Series B
- Amount Raised: $10M
- Date: February 2016
- Lead Investors: BEENEXT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the user base and enhance platform features.
- Series B
- Amount Raised: $7M
- Date: December 2016
- Lead Investors: KTB Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and improve service offerings.
- Series C
- Amount Raised: $51M
- Date: June 2019
- Lead Investors: General Atlantic, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Debt Financing
- Amount Raised: ₹170M
- Date: June 2019
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and short-term financial needs.
- Series D
- Amount Raised: $50M
- Date: October 2019
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological infrastructure and user experience.
- Venture Round
- Amount Raised: $10M
- Date: November 2019
- Lead Investors: General Atlantic
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing expansion and market penetration.
- Series D
- Amount Raised: $30M
- Date: April 2020
- Lead Investors: General Atlantic
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To sustain growth during the pandemic and invest in new services.
- Series E
- Amount Raised: ₹15.8B
- Date: November 2021
- Lead Investors: General Atlantic, Moore Strategic Ventures, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and enter new geographical markets.
- Series E
- Amount Raised: ₹400M
- Date: March 2023
- Lead Investors: Google
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage strategic partnerships and enhance technological capabilities.
NoBroker has raised a total of $65.8M and ₹16.37B. The current valuation is Not publicly disclosed.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a global investment firm that focuses on private and public companies in the internet, software, consumer, and financial technology sectors. Founded in 2001, it has a strong track record of backing high-growth companies.
- Investment Focus Areas: Internet, software, consumer, financial technology
- Notable Investments: Flipkart, LinkedIn, Ola
- General Atlantic
- Details: General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, it has invested in over 400 companies worldwide.
- Investment Focus Areas: Technology, consumer, financial services, healthcare
- Notable Investments: Airbnb, Alibaba, Uber
- Moore Strategic Ventures
- Details: Moore Strategic Ventures is the privately held investment company of Louis M. Bacon, focusing on long-term investments. The firm is known for its strategic and diversified investment approach.
- Investment Focus Areas: Long-term investments in various sectors
- Notable Investments: SpaceX, Robinhood
- Google
- Details: Google, a subsidiary of Alphabet Inc., is a multinational technology company specializing in internet-related services and products. It is one of the most influential tech companies globally.
- Investment Focus Areas: Technology, artificial intelligence, cloud computing
- Notable Investments: Waymo, DeepMind, YouTube
- BEENEXT
- Details: BEENEXT is a venture capital firm investing in early-stage technology startups. Founded by entrepreneurs, it focuses on supporting founders with operational expertise and a global network.
- Investment Focus Areas: Technology, fintech, e-commerce
- Notable Investments: Citrus Pay, TrustingSocial, NoBroker
What's Next for NoBroker?
With its recent funding, NoBroker is poised to capitalize on the burgeoning proptech market in India. The company plans to use the Rs 1,575 crore to expand its services, improve technology, and enter new markets. This substantial capital injection positions NoBroker to scale operations and enhance its service offerings, making it a formidable player in the industry.
As a newly minted unicorn, NoBroker is now more attractive to investors, opening doors for additional funding rounds. The company might even explore opportunities for an Initial Public Offering (IPO) in the future. However, it will face challenges such as intense competition, regulatory hurdles, and the need to maintain data security and privacy in digital transactions.
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