Thursday, February 27, 2025 | 04:29 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

NoBroker.com eyes 20 cities for rental housing business

In March 2014, Fulcrum Ventures along with SAIF Partners had led a $3 million in Series A round of funding, in NoBroker.com

<a href="http://www.shutterstock.com/pic-129218105/stock-photo-a-key-in-a-lock-with-house-icon-on-it.html" target="_blank">Image</a> via Shutterstock

BS Reporter Pune
Bangalore-based NoBroker.com is broker-free property search portal that connects flat owners and tenants directly with each other by eliminating the middleman. The company has has began its operations in Pune after Mumbai, Bangalore and Chennai.

"Our focus is to make your house hunting experience happy and hassle free. Although majority of the current online real estate players are working on B2C model, we believe that the timing is right for disruption through a peer-to-peer model. We have already helped our customers in Bangalore and Mumbai save more than 35 crore of brokerage in less than a year. There's definitely something that we are doing right. Our primary focus is on strengthening the non-broker ecosystem and on expanding to all major cities in India. By the end of this year we plan to be present in more than 20 cities," said Akhil Gupta, founder and CTO, NoBroker.com.
 

Founded by IIT - IIM Ahmedabad graduates, Amit Kumar and Akhil Gupta, NoBroker.com focuses on delivering genuine and broker free solution to both owners and customers.

In March 2014, Fulcrum Ventures along with SAIF Partners had led a $3 million in Series A round of funding, in NoBroker.com.

Gupta added, "Our focus is to make your house hunting experience happy and hassle free. Although majority of the current online real estate players are working on B2C model, we believe that the timing is right for disruption through a Peer-to-Peer model. We have already helped our customers in Bangalore and Mumbai save more than 35 crore of brokerage in less than a year."

According to Gupta, there is a huge demand for rental houses. In India's top 20 cities, over 1.2 crore homes are available on rental basis. The market size of residential rental brokerage in top 20 cities in India is $4 billion which is estimated to grow to $12 bn in next five years. It is planning to expand its base in 100 cities across India in the next two years.

NoBroker.com was angel funded by Saurabh Garg, co-founder of Four Fountains De-stress Spa who also acts as a mentor. 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 27 2015 | 7:04 PM IST

Explore News