Tech-based brokerage-free real estate platform NoBroker.com has added another $30 million to its Series D Funding taking it to $80 mn.

The round was led by General Atlantic. It is an extension to their Series D funding round of $50 million in October 2019 which was led by Tiger Global; General Atlantic had also participated in that round, said Akhil Gupta, CTO and Co-Founder of NoBroker.com.

This brings the total funding raised by NoBroker to $151 million

The company plans to use the funds to invest in technology, expand its customer base and launch its services in newer geographies.

In November, the company launched its operations in Delhi-NCR region, making it the sixth city after Mumbai, Bangalore, Pune, Chennai and Hyderabad.

NoBroker would be expanding its operations across India’s top 25 cities in the next 2 -3 years, said its CBO and co-founder Saurabh Garg.

More than 35 lakh properties have been registered on the company’s site and over 85 lakh individuals - used our services (in the cities we operate at present), Garg said, adding “the platform is gaining traction with around four lakh new customers joining our fold every month”.

Stating that the portal is a one-stop shop for the entire real estate transaction journey ranging from rental, sale or resale to post transaction services like loan, packers and movers, legal documentation, online rent payment, interiors etc., its CEO and Co-Founder Amit Kumar said, “the support provided by our investors is testimony to our ongoing tech innovation. We will further invest in financial services to make them accessible to more people.”

To a query on real estate sector, he conceded that the market would be impacted (in the aftermath of Covid-19), albeit for a short term but see some correction in the price of properties coming up for sale. The second half is expected to be better; resale market has started showing signs of pickup.

On growth, he said, “We have been tripling our revenue every year and this funding would help us further improve user experience and enable faster deal closures”.

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