Google Capital Invests In Commonfloor

2014 was a big year for Commonfloor. They acquired student accommodation website and had raised a total of around USD 47 million in funding from investors.

Commonfloor has now raised an undisclosed amount in investment from Google Capital. This is Google capital’s second investment in India (first was SaaS provider Freshdesk) and third in all over Asia (the other one being China’s InnoLight).

This investment comes at an exciting time for the online real estate sector in India, fueled by the Indian Government’s goal of providing Housing for All by 2022.   To achieve this, the Government is allocating a budget of INR 4,000 crore for affordable housing, introducing incentives for infrastructure financing by the RBI. It has lowered interest rates on home loans, established a framework for REITs and, most recently, relaxed FDI norms in the construction sector.

Competitor had recently raised $90 million in funding from SoftBank.

Written by Sivaprasad Nair

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After all these years of existence, what I have realized is that being clueless in life is the point where you see a lot of options opening up for you. You just have to believe in yourself to make everything work. This “profound thought” is derived out of the extreme phases of 'cluelessness' that I encountered at various points of life and ultimately ending up doing what I Love – Writing.. I also love watching movies and reading books. Biking is a passion. Silly things in life makes me angry and even sillier things make me emotional. Well what’s life if not for the great number of small things and small number of great things, right?