NoBroker, a real estate technology company, has secured Series E funding of $50 million and announced plans to partner with Google to power up its expansion. This investment round was led by General Atlantic and included existing investors such as SAIF Partners, Tiger Global Management, Qualgro, Beenext Ventures, and KTB Ventures.
NoBroker is leveraging the latest technologies such as artificial intelligence (AI) and machine learning (ML) to provide a seamless home rental experience for users across India. The company plans to use the fresh capital to further expand its presence in India and develop new products that will help it become a one-stop shop for all real estate needs. With the help of Google’s expertise in AI/ML technologies, NoBroker is looking forward to taking its products and services to the next level.
What is NoBroker and What Does This Recent Series E Funding Mean?
NoBroker is a real estate technology platform that has been revolutionizing the way people buy, sell, and rent properties. Founded in 2014, the company has grown rapidly and recently announced a $50 million Series E funding round.
This new funding will be used to expand NoBroker’s services and capabilities in India and other countries. With this additional capital, NoBroker hopes to create an even more efficient and reliable experience for its users when it comes to buying, selling or renting properties.
NoBroker’s Strategic Plans Post-Series E Funding & Google Partnership
NoBroker, a leading online real estate platform in India, recently secured Series E funding and partnered with Google to expand its operations. This has created an opportunity for the company to leverage its resources and pursue strategic plans that will enable it to become a leader in the real estate sector. The partnership with Google will provide NoBroker access to advanced technology and data-driven insights which can be utilized for developing innovative products and services.
With this new funding, NoBroker is planning on investing in its technology infrastructure, expanding into new markets, and hiring more talent to support their growth strategy. By leveraging these strategic plans post-Series E funding & Google partnership, NoBroker hopes to become one of the most successful real estate platforms in India.
Benefits of NoBroker’s Series E Funding for Buyers & Sellers of Property
NoBroker’s Series E Funding has revolutionized the real estate industry, providing tremendous benefits for both buyers and sellers of property. The funding will help NoBroker expand its services, making it easier for buyers to find the right property and for sellers to reach more potential customers.
In addition, the funding will enable NoBroker to provide more personalized services such as automated pricing and marketing advice. This will help buyers and sellers get the best deals while ensuring they get the most value out of their investments. With this funding, NoBroker will be able to continue to provide quality services that benefit both parties in a real estate transaction.
NoBroker and Google’s Partnership – How Will This Impact the Real Estate Industry?
Google and NoBroker have recently announced a strategic partnership to revolutionize the real estate industry. This partnership will leverage the power of Google’s technology and NoBroker’s deep understanding of the real estate market to create innovative solutions for property buyers and sellers.
The partnership is expected to bring about significant changes in the way people search for properties, get detailed information about them, and make decisions. It will also provide an easier way for agents to connect with potential buyers and sellers, as well as help them manage their business more efficiently.
This collaboration between two of the most powerful players in the industry promises to bring new opportunities for both buyers and sellers, as well as agents, brokers, developers and other stakeholders in the real estate market.
Key Points
- Google and NoBroker will work together to improve user experience and make a consumer’s complete real estate journey a seamless one.
- Google has contributed an extra Rs 40 crore ($5 million) to the proptech startup NoBroker’s Series E fundraising round, joining prior backers General Atlantic, Tiger Global, and Moore Strategic Ventures.
- The additional funding will be utilised to expand the company’s customer base across existing and new cities and to leverage technology to simplify the entire real estate process, from searching for properties to moving them and managing society.
- The startup’s Series E financing was increased with the current round. NoBroker raised an enormous $210 million in November 2021, joining the exclusive club of companies valued at $1 billion.
- According to Saurabh Garg, co-founder and chief business officer at NoBroker, “we are seeing an upward trend in the property buying segment and this funding will help us deepen our investments in resale and primary sale verticals,” it is a good time to develop solutions that would improve society living for residents, and this partnership will help us get there more quickly.
- As part of the funding agreement, Google and NoBroker will work together to improve user experience and advance the goal of streamlining the real estate process from house search to living in a housing society.
- “The real estate sector is experiencing exciting times right now. Both rent and purchases are in high demand “Co-founder and CEO of NoBroker, Amit Agarwal. “We are excited to work with Google to develop products and solutions that will make finding a home and living there easier for our users.
- NoBroker, a company founded in 2013 by Akhil Gupta, Amit Agarwal, and Saurabh Garg, allows people to rent out homes without going via a broker, as well as help them move in, obtain home loans, use cleaning and painting services, pay rent, and access legal services.
- NoBroker introduced NoBrokerHood in 2019 as a clever technique for managing residential communities and visitors. Its services include managing visitors, managing finances, managing communities, managing homes, managing legal verification, and more.
- For the purpose of combining the financial module with its services on a single platform, the business purchased Society Connect in February 2020.
- “We’re thrilled to work with Google. We’ll make the most of this relationship in a number of ways, including by creating innovative solutions that make NoBrokerHood society inhabitants’ lives easier “said Akhil Gupta, co-founder, CTO, and product officer of NoBroker. “In the coming years, we want to aggressively expand and reach 1 lakh societies.
- More than one crore properties, according to NoBroker, are already listed on its website. In Bangalore, Mumbai, Pune, Chennai, Hyderabad, and Delhi-NCR, it claims to have more than 2.5 crore registered users. It also runs in Lucknow, Kolkata, Coimbatore, Ahmedabad, and Jaipur.
- Famous investors such as Google, General Atlantic, Tiger Global, Elevation Capital, Moore Strategic Ventures, BEENEXT, BEENOS, and KTB Ventures support the company.