Delhi-based Proptech startup HouseEazy raises $7 mn in Series-A funding
Source: Business Standard
 "HouseEazy")
The company had previously raised seed financing in December 2023. Image: Linkedin
Delhi-based property technology startup HouseEazy has announced that it has raised $7 million in Series A funding. The latest funding round is a mix of equity and debt led by Chiratae Ventures. It also saw participation from Alteria Capital and existing investor Antler.
Series A round is the company’s first significant fundraising after the initial seed round. The company had raised the seed financing in December 2023.
HouseEazy said that the funds collected will be used to drive growth in new NCR (National Capital Region) geographies, expand its footprint, enhance products, and support team expansion.
“In the primary market, the real estate developer typically serves as the anchor, but no single player was addressing all the needs of resale buyers and sellers. These transactions were traditionally conducted with multiple stakeholders, leading to inherent risks and lengthy closure times. We have completely re-engineered the process, enabling customers to buy or sell homes in under 15 days on the HouseEazy platform,” said Tarun Sainani, Co-founder, HouseEazy.
HouseEazy offers real-time pricing for sellers using a proprietary machine-learning algorithm powered by over 1.5 million data points, enabling customers to conclude instant transactions at optimal prices.
The platform also provides mortgage, legal, and registry facilitation services, making it a comprehensive solution for all resale property needs.
The proptech firm holds a presence in the cities of Noida and Ghaziabad, with recent entry into Gurgaon. It further plans to expand its presence in cities like Pune, Mumbai and Bengaluru.
“We have already hit a GMV (gross merchandise value) ARR (accounting rate of return) of Rs 425 crore, and expect to hit Rs 1,800 crore GMV ARR in the next 15-18 months from the NCR market alone. The potential of this business is to become bigger than many pan-India developers, as the secondary market is twice that of primary, with very little competition and a deep customer need gap that is consistent across geographies,” Deepak Bhatia, Co-founder, HouseEazy, said.
First Published: Aug 26 2024 | 2:44 PM IST
