Company Name : NoBroker
Funding Amount : $10 million
Investor(s) BEENEXT, Digital Garage
Funding Round : Series B
NoBroker has raised $10 million in Series B funding led by BEENEXT & Digital Garage along with other investors namely BEENOS, Qualgro and Mamoru Taniya of Asuka holdings. Existing investor SAIF Partners has also participated in this round.
SAIF Partners had led the Series-A round of NoBroker along with Fulcrum Ventures, one-year back.
“In last 12 months our customer base has grown from 35,000 to 650,000. This funding will help us further grow & strengthen our customer base. We have seen this growth despite us moving from a free to a subscription-based fee model. This shows the customers’ need & acceptance of a brokerage-free real estate platform. Our revenue is doubling every month. Focus is to build a profitable business by breaking-even next year”, said Amit Kumar Agarwal, CEO & Co-Founder, NoBroker.
NoBroker plans to to grow aggressively in the near future. The raised fund will be used for hiring people in product and technology, marketing activities, and expanding to 20 cities in the next two years.