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Protech unicorn NoBroker achieved a substantial 96 per cent Y-o-Y revenue growth, reaching ₹325.88 crore in FY22, compared to ₹166 crore in FY21.
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The Bengaluru-based startup, which has set its eyes on turning profitable in the next two years, reported a significant increase in losses for FY22. The company’s losses surged 62.6 per cent to ₹309 crore compared to ₹190 crore in FY21, according to the ROC filing shared by PrivateCircle Research.
The company operates as a comprehensive real estate solution, offering services including renting, buying, selling, home services (such as packers and movers, home interiors, and more), financial services, and society management through NoBrokerHood.
On the expenses side, In FY22, it also posted an increase in its employee benefit expense to ₹261.66 crore compared to ₹178.41 crore. While the total expenses increased by 67 per cent Y-o-Y to ₹678.94 crore compared to ₹406.32 crore.
The start-up currently has a footprint in 6 cities: Bengaluru, Mumbai, Pune, Hyderabad, Chennai, and the national capital region. Backed by players including Tiger Global Management, Elevation and General Atlantic, it has raised $366 million in funding over five rounds, with the last raise in March this year from a Series E round.
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