Nobroker is a disruptive real-estate platform that makes it possible to buy/sell/rent a house without paying any brokerage. Nobroker was started because its founders had a view that paying hefty brokerage can not be the only option to find a new home. As tenants, one has been paying these brokerages year on year without seeing any advantage of the broker. Nobroker is a platform that removes this information asymmetry and provides a marketplace for free exchange of this information that used to cost 1-2 months of rent as brokerage.
Property listing site NoBroker.com today said it has raised USD 10 million (about Rs 68 crore) in Series B funding. This takes the total funding raised by the site to USD 13 million (about Rs 89 crore). The funding round has been led by Beenext and Digital Garage, along with Beenos, Qualgro and Mamoru Taniya of Asuka holdings. Not just that, their existing investor, SAIF Partners has also participated in this round.
When asked about the development, NoBroker.com CTO and co-founder Akhil Gupta said,
“This funding will help us in getting good technology talent on board and enhance the product offering and thus improve the overall customer experience,”
The organisation is currently seeing an exponential growth in its customer base and looks like the funds have come in at the right time.