Bengaluru-based peer-to-peer property listings site NoBroker, has raised $3 million in Series A round from SAIF Partners and Fulcrum Capital.
As per a TechCrunch report, the new funding will be used to expand its service to more cities as, the firm is looking to reach 20 cities in India – that target is likely to require further funding in due course. In 2014, the company had raised an undisclosed amount in seed round from an angel investor, Saurabh Garg.
Founded in 2013 by Amit Agrawal and Akhil Gupta, NoBroker is a home rental platform that helps users to find a home without paying any brokerage. Currently, it is having operations in Mumbai and Bengaluru. The firm claims to have 5,000 listed property in Mumbai alone. It claims of having verified listings to make sure that these are direct owners and there are no middleman or brokers involved.
NoBroker provides accurate information about the property and neighbourhood including schools, banks, restaurants etc. that makes it easier for user to short list the property without actually visiting it. User can also post a requirement for flatmates using its shared accommodation feature.