NoBroker Real Estate Portal Raises $29 Mn From General Atlantic

NoBroker Real Estate Portal Raises $29 Mn

Nobroker real estate portal has raised 29$ million i.e 216.13 crore funding from General Atlantic, with this fresh fund General Atlantic has become the largest stakeholder in the company now holding 30.89% stake, followed by SAIF Partners and Tiger Global command 20.08% and 10.17% stake.

NoBroker Real Estate Portal Raises $29 Mn From General Atlantic

General Atlantic has invested 50$ million in series C1 back in June 2019, After four month later, it participated in another round led by Tiger global.

Currently C2 round seems to be ongoing and it could see more investments from funders.

Also Read: FarEye Raises $25 Million Series D By Microsoft’s Venture

This fresh funding came after No Broker posted its financial result for F19, in which company revenue grew by 2.1X  to Rs 18.07 crore from Rs 8.6 crore in FY18, during FY19 total expenses surged by 40.4% to Rs 63.56 crore from Rs 45.3 crore in FY18 with employee benefit expenses of Rs 36.4 crore making up 57.3% of the total expenditure.

No Broker claims that more the 10 lakh+ customers connected monthly on the platform.

Top competitor in real estate portal for NoBroker is Commonfloor, India Property, 99acres, Magicbricks, PropTiger, Housing, Quikr and OLX.

About Abhi

Abhi is Editor at Selectyourdeals he loves to write and cover the latest startup, technology related news.

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