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Housing.com, the leading real estate portal, has received investments worth $90 million from Japanese major SoftBank Internet and Media, Inc. SoftBank Group will lead an investment of $90 million in Housing.com, along with Falcon Edge and other existing investors.
Housing.com has now raised more than $ 121 million in just 2 years.
Housing.com will use the funds to map over 40 million houses across 300 cities in India and provide On-Off buttons to home owners and agents.
These On-Off buttons will convert all the curated houses database into assets for Housing.com, and can be reactivated when they're again available in the market, a company statement said.
Along with its investment in Housing.com, SoftBank has made investments worth about $1 billion in India in 2014. In October, it invested $627 million in Indian marketplace Snapdeal.com, while $210 million was deployed into ANI Technologies Pvt. Ltd.’s Ola Cabs, the taxi-booking service.
In November, Bharti SoftBank, a joint venture between Bharti Enterprises and SoftBank Corp., had acquired a 36.5% stake in ScoopWhoop, an Indian-focused media startup, for an undisclosed amount. The Japanese giant recently said that it intends to invest about $10 billion in India over the next few years.
Advitiya Sharma, Co-Founder of Housing.com said, “Ever since we started the company we had a huge vision, to help millions of people struggling to find Real Estate that meets their requirements perfectly. We’ve put in all our focus into building great products and mapping every single house in the country, on the platform.”
Housing.com, founded in 2012, operates in over 45 cities, with over 350,000 verified listings and more than 15,000 new projects. Housing now has more than 1,500 employees in over 45 cities across India.
Avendus Capital acted as financial advisor to Housing.com.
