No Broker becomes India’s first real estate unicorn

BENGALURU: Real estate platform has raised $210 million (Rs 1,575 crore) from investors, including General Atlantic and Tiger global to expand its business across 50 cities, a top company official said on Tuesday.
Bengaluru-based NoBroker, which was launched in 2013, has raised the fund at $1 billion valuation to become the first unicorn in proptech sector.
The Series E funding round was led by General Atlantic, Tiger Global Management and Moore Strategic Ventures.
“We have raised $210 million fund from investors for our expansion plan,” Co-Founder Akhil Gupta told PTI in an interview.
With the latest funding round, the company has so far raised $361 million.
“We founders have diluted stake to raise funds, but we have the control,” Co-Founder and CEO Amit Agarwal said when asked about the dilution of stake to raise $210 million.
The fund will be utilised for expansion and to fuel growth. The company plans to use the money to penetrate deeper into 6 cities where it has presence and expand operations to 50 cities as well as to expand its society management app NoBrokerHood.
Agarwal did not share the company’s revenue but said it has been growing at three times annually.
The company aims to become profitable in the next two-three years, he added.
“We are a one-stop shop for all property related needs from renting, buying, home services, financial services and society management. We do not charge any brokerage from customers,” Co-Founder Saurabh Garg said.


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