Future Prediction for NoBroker
Private equity investors Tiger Global and General Atlantic are preparing to lead a $100 to $130 million funding round in real estate platform NoBroker. This would be doubling its valuation in three months to $400 million. This was as per three people who knew about the development.
Recently in June, General Atlantic led a $51 million investment round in the startup that is Benagaluru based. Leading industry leaders said that NoBroker has been looking to build products that normally generate customer recall beyond a touchpoint of rental and sale. This is inclusive of paying monthly rent, this makes it an attractive consumer brand.
Tiger Global is also leading a $55-$60 million round in MyGate, which is a security app that is designed for gated premises, as per sources. Tiger Global also backed Nestaway.
NoBroker doesn’t charge any brokerage from either party, that offers service packages that range from Rs.999 to Rs. 5,999 for value-added services. The company also has other new business lines in the rentals spaces, which is inclusive of furniture and appliance rentals, movers and packers, and rental agreements.
Other Players in the Space
NoBroker lists its competition in Nestaway, Proptiger, 99Acres, and Magic Bricks. In 2018, NoBroker’s revenue from operations was somewhere around Rs. 8.6 crores on a loss of Rs.31.4 crore, as per regulatory filings.
Over the days, there have been many investors from the US, Japan, South Korea and China that are turning to India, in order to evaluate investment opportunities. Ones that are betting on an internet user base that is growing at a scorching pace and is touching almost 400 million users, with strong macro-economic fundamentals. Active growth stage investors include Steadview Capital, Falcon Edge, Mirae Asset, B Capital and Accel Growth.