Online real estate platform, Housing.com, has raised Rs 100 crore from its existing investor Japan’s Softbank. The funds will be used in its new strategy and growth plans.
Founded by Amrit Raj, Ravish Naresh, Vaibhav Tolia, Advitiya Sharma and Rahul Yadav in June 2012, the company helps its customers to find, rent, and sell homes in India using different filters like price, location, size etc.
In a statement, CEO of the company Jason Kothari stated that Softbank is one of the world’s largest and most successful investors. Their continued support as both investors and advisors to Housing.com is invaluable and signifies their long-term commitment to the company. They are now well-capitalised to aggressively execute on their focused strategy and growth plans and believe 2016 will be a great year for the company.
The company is planning to just concentrate on buying and renting homes, which seems to be one of the most lucrative market. Housing claims to have 85 million visits in 2015, with 1.7 million verified listings.
The company has also acquired one of the most visited online real estate forums ‘India Real Estate’, customer relationship management for developers ‘HomeBuy360’ and data analytics company ‘Realty Business Intelligence’.
Housing has been active from quite a long time, they have been revamping their top staff and has established partnerships with Maharashtra Chamber of Housing Industry (MCHI) and Confederation of Real Estate Developers Associations of India (CREDAI), organising the first of its kind ‘Real Estate Expo’. The company also released branding solutions ‘BRAND FALCON’ for premier developers and is claiming to be working with 40,000 developers and agents.
Housing.com faces direct competition from Infoedge’s 99 acres, commonfloor, MagicBricks, and PropTigers. The Indian real estate market is expected to cross $180 billion by 2020, interestingly, just the housing sector in the nation contributes 5-6 percent to its GDP.