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Google backs online real estate portal NoBroker

NoBroker

Google backs online NoBroker portal

NoBroker, India’s first proptech unicorn, has raised an additional round of funding from Google.

The internet giant joins existing investors General Atlantic, Tiger Global, and Moore Strategic Ventures, from whom the Bengaluru-based company raised $210 million in November 2021 at a $1 billion valuation.

NoBroker will seek to leverage Google’s expertise and experience in building consumer tech products to create unique solutions for its society management service app called NoBrokerHood, as well as products to improve the platform’s home searching experience. Akhil Gupta, the company’s co-founder and Chief Technology and Product Officer, announced the news on Twitter.

“We’re thrilled to work with Google. Building innovative solutions to make NoBrokerHood society inhabitants’ life easier is one of the major ways we’ll make use of this cooperation. In a separate statement, Gupta stated, “Our goal is to grow rapidly over the next few years and reach 1 lakh societies.

NoBroker

According to the business, the money would enable it to expand its customer base across existing and new locations and, with the aid of technology, expedite the entire real estate process.

In addition to Kolkata, Coimbatore, Ahmedabad, Jaipur, and Lucknow, NoBrokerHood also works in six more cities, including Bangalore, Chennai, Delhi-NCR, Hyderabad, Mumbai, and Pune.

Amit Agarwal, Akhil Gupta, and Saurabh Garg, three Indian Institute of Technology graduates, founded NoBroker in 2013. It began as a platform for listing rental properties but has since expanded into a number of markets, including buy and sell services, home services like moving and packing, painting, and cleaning, as well as financial services like rent payment, insurance, home loans, and community management.

According to the business, the website has more than 1 crore properties registered on it, and more than 2.5 crore people have used its services.

The cash will enable us to increase our investments in the resale and primary sale verticals as we observe an increased trend in the property buying segment. Those who wish to rent or buy homes in gated communities are in greater demand. The right time has come to develop solutions that will improve citizens’ quality of life in society, and this alliance will help us get there more quickly, according to Garg.