NoBroker offers broker free listings of flats directly from owners
Bangalore – Sept 08, 2016. RedNewswire/–
NoBroker has raised an undisclosed funding amount from Former Airtel & Snapdeal Chief Product Officer Anand Chandrasekaran. However, Chandrasekaran declined to disclose the exact amount invested by him in NoBroker.
NoBroker.com had raised Series B funding in February this year. The total funding raised by NoBroker.com so far is $13 million.
Anand Chandrasekaran said, “NoBroker.com is disrupting an age old real estate industry. The business model is hugely scalable and the product reach has global potential. Innovative products driven by technology have removed intermediation in majority of sectors and it is happening in real estate as well. I am excited to guide their vision at a global level.”
NoBroker devised an algorithm which filters the brokers among new sign-ups after scouring the net. Introduced a feature to let users click and share pics of ‘to-let’ boards around localities with an incentive of INR 100, which would be transferred to their Paytm wallet or bank accounts for each verified listing.
NoBroker.com has served over a million customers making it the world’s largest C2C real estate platform. NoBroker.com is adding 1 lakh customers on a monthly basis and witnessing 5 lakh customer connections every month which leads to a saving of more than 18 crores. Claims to have enabled more than 4,00,000 customer connections on a monthly basis, as of Feb 2016
NoBroker.com recently moved to a freemium subscription-fee based model. “There is a huge customer demand and acceptance of a brokerage-free real estate marketplace. Our focus is on building a profitable business by breaking-even next year”, says Amit Kumar Agarwal, CEO and Co-Founder, NoBroker.com.