Launched in May 2015, Gurgaon-based C2C online real estate marketplace Homers.in has raised its first round of funding from a group of investors including Devesh Rai G, Founding Team member ShopClues & Founder WYDR.in; Amitpal Bhutani, Principal Technical Program Manager Amazon US; and Rajesh Aggarwal, Founder and CEO FHO Communications and ex Group President Dentsu India.
The fund will be utilized in creating technology differentiators, customer acquisition and expansion.
With listings in excess of 4,500, the company plans to expand its presence to 6 cities by end of the current fiscal. Few of the key differentiating factors of the company are- its zero commission programme, verified listings, due diligence, and complete transaction support.
The urban real estate market in India is close to 14 million annual transaction. Yet a negligible part of this is currently enabled by online player, a problem that Homers aims to solve by focusing on enabling actual transaction through its platform via tech enabled discovery, reliable information, and a services stack to customers.
Speaking on raising first round of investment, Tarun Chaudhry, Co-Founder & CEO – Homers.in, said, “Homers.in has been able to stand apart in the maze of old and new real estate portals, due to its unique concept and execution. Built around the principle of reliable and trustworthy information, Homers.in provides direct C2C connect via extensive multi-level verification and complete transaction support.”
With digitization, the traditional idea and experience of selling and shopping have been completely transformed, and this change is not just limited to purchasing lifestyle products or gadgets. It has gone as far as bringing real estate on offer online. Real estate online portals have now evolved to provide a data-backed analysis of each and every micro market with minute details of the property and emerging as a one-stop destination for not only buying property, but also to seek advise on getting finance and preparation of rent agreements. Some of the Indian players which operating in the online real estate segment are – Nobroker.in, Housing, CommonFloor, MagicBricks, PropTiger etc.