No Broker at $1.01billion has become a first property tech (proptech) and real estate startup to achieve unicorn status. This Bengaluru startup has achieved unicorn status in India. ‘Unicorn’ is a privately held startup with a valuation of $1 billion and above. The company has managed to raise $361 million to date across several equity rounds in the market.
No Broker is a tech-based brokerage-free real estate platform. It allows users to buy and sell as well as rent properties across six metro cities namely — Bangalore, Mumbai, Pune, Chennai, Hyderabad, and Delhi-NCR.
No Broker also offers apartment management software, NoBrokerHood, for gated societies and apartments. It plans to escalate its presence from 10,000 gated communities to 100,000 apartments.
Apart from apartment management, it provides numerous value-added services including home loans, packers and movers, essential home services, legal documentation, online rent payment. It also allows direct-to-consumer (D2C) brands to sell to residents in gated communities.
The company at present has close to 150 employees in its company. It plans to double this count over the next year. It is a business in which you can’t multiply 10-times within a month by giving cashback.
“Once you have built a business, nobody else can snatch it from you within a month. It takes time to get built, but once it is built, it’s a very strong business,” said Amit Kumar Agarwal. “We are in a business in which you can’t multiply 10-times within a month by giving cashbacks, but once you have built something, nobody else can snatch it from you within a month, so basically, it takes time to get built, but once it is built, it’s a very strong business,” added Amit Kumar Agarwal, Co-founder and Chief executive officer, NoBroker.
The company plans to use the proceeds from the current fundraise to expand its network across 50 more Indian cities over the next two years. It would also invest heavily in expanding its technology and product function across the major cities of India. The company is now working with new-age insurance companies to launch customized home loans, it also plans to boost the options for the customers.
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