Total amount raised
$379.9 Million
Latest funding date
3/1/2023
Location
NoBroker has successfully raised funding over 12 rounds, with significant backing from investors like Google and General Atlantic. The latest funding round is a Series E, highlighting the company's continued growth and appeal to major investors.
Keep reading to explore the intricacies of NoBroker's fundraising journey and the investors backing this innovative platform.
What Is NoBroker?
NoBroker, founded in 2013, is a pioneering proptech company based in Bengaluru, Karnataka, India. It stands out as India's first and only brokerage-free real estate platform, offering a comprehensive range of property-related services.
Operating in industries such as Commercial Real Estate, Mobile Apps, Property Management, PropTech, and Real Estate, NoBroker has grown significantly, employing between 1001-5000 people. The platform aims to simplify property transactions by directly connecting property owners with potential buyers or tenants, eliminating the need for brokers.
How Much Funding Has NoBroker Raised?
- Series A
- Amount Raised: USD 3,000,000
- Date: February 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the platform and begin operations.
- Series B
- Amount Raised: USD 10,000,000
- Date: February 2016
- Lead Investors: BEENEXT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's reach and enhance technology.
- Series B
- Amount Raised: USD 7,000,000
- Date: December 2016
- Lead Investors: KTB Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and improve service offerings.
- Debt Financing
- Amount Raised: INR 170,000,000
- Date: June 2019
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and growth initiatives.
- Series C
- Amount Raised: USD 51,000,000
- Date: June 2019
- Lead Investors: General Atlantic, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance technological capabilities.
- Series D
- Amount Raised: USD 50,000,000
- Date: October 2019
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series Unknown
- Amount Raised: USD 10,000,000
- Date: November 2019
- Lead Investors: General Atlantic
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and development.
- Series D
- Amount Raised: USD 30,000,000
- Date: April 2020
- Lead Investors: General Atlantic
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform features and expand user base.
- Series E
- Amount Raised: INR 15,750,000,000
- Date: November 2021
- Lead Investors: General Atlantic, Moore Strategic Ventures, Tiger Global Management
- Valuation at Round: USD 1,000,000,000
- Motivation Behind the Round: To expand operations to 50 cities and invest in new services.
- Series E
- Amount Raised: INR 400,000,000
- Date: March 2023
- Lead Investors: Google
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance technological infrastructure and expand market reach.
Total Amount Raised: USD 161,000,000
Current Valuation: USD 1,000,000,000
Key Investors
- Google
- Details: Google is a multinational technology company specializing in Internet-related services and products. It is one of the most influential tech companies globally, known for its search engine, advertising services, and various software and hardware products.
- Investment Focus Areas: Technology, Internet services, products
- Notable Investments: Various tech startups and established companies across the globe
- General Atlantic
- Details: General Atlantic is a global growth equity firm providing capital and strategic support for growth companies. It focuses on partnering with entrepreneurs and management teams to build market leaders.
- Investment Focus Areas: Technology, consumer, financial services, healthcare
- Notable Investments: Airbnb, Alibaba, Uber
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that deploys capital globally in both public and private markets. It is known for its aggressive investment strategy in technology and consumer sectors.
- Investment Focus Areas: Technology, consumer, industrials
- Notable Investments: Facebook, LinkedIn, Flipkart
- Moore Strategic Ventures
- Details: Moore Strategic Ventures is the privately held investment company of Louis M. Bacon. It focuses on long-term investments in various sectors, leveraging Bacon's expertise in financial markets.
- Investment Focus Areas: Technology, real estate, financial services
- Notable Investments: SpaceX, Robinhood
- KTB Ventures
- Details: KTB Ventures is a venture capital firm that invests in early to growth-stage companies. It aims to support innovative startups with the potential for significant market impact.
- Investment Focus Areas: Technology, healthcare, consumer
- Notable Investments: Not publicly disclosed
What's Next for NoBroker?
NoBroker's future looks promising as it plans to expand its operations from six cities to 50, including Kolkata and Ahmedabad. This ambitious growth strategy is supported by a recent $210 million funding round, which will also fuel investments in technology and new services like home loans and insurance. The company aims to scale its NoBrokerHood society management platform from 10,000 to 100,000 societies, tapping into the growing demand for comprehensive real estate services.
With the upward trend in property buying, NoBroker is well-positioned to attract further investments. The confidence shown by global investors suggests that future fundraising opportunities are likely as the company continues to scale. However, managing rapid expansion and ensuring service quality will be critical challenges. Competition from other real estate platforms and regulatory hurdles in different cities could also pose significant obstacles.
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