Grabhouse.com, community-based online exchange for finding rented accommodation, has closed a Series A funding of USD 2.5 million from Kalaari Capital and Sequoia Capital. The investment will be utilized to develop products and improve the existing technology to enhance the end-user experience and to increase the company’s footprint across major cities in India.
The company offers a broker-free experience to house hunters seeking rented or shared accommodation. The portal uses an in-house engine to map the needs and preferences of prospective tenants and house owners that go beyond basic parameters such as budget and location to recommend the best matches.
Founded in July 2013 by Pankhuri Shrivastava and Prateek Shukla, Grabhouse.com received seed fund from India Quotient and MV Krishnan from Deutsche Bank as well as Chetan Bohra and Navin Ranka from RB & Partners. The portal currently offers houses in Mumbai, Pune, Hyderabad and Bengaluru and attracts a daily traffic of about 500,000 visitors.