Tiger Global co-led $210m round cements NoBroker’s place in unicorn club

NoBroker, an India-based proptech startup, has secured US$210 million in funding in a series E round led by General Atlantic, Tiger Global Management, and Moore Strategic Ventures.

From left: NoBroker co-founders Amit Kumar Agarwal, Akhil Gupta, and Saurabh Garg / Photo credit: NoBroker

With the new round, the company’s valuation reaches US$1 billion, cementing its position in the country’s swelling unicorn club.

The startup will use the funding to scale up into new geographies and to streamline the entire real estate journey.

“We are seeing an upward trend in the property buying segment and this funding will help us deepen our investments in resale and primary sale verticals,” said Saurabh Garg, co-founder and chief business officer of NoBroker.

Founded in 2014, the company caters to all property-related needs from renting, buying, home services, financial services, and society management. With a digital-first approach, it uses machine learning and AI to make the entire process hassle-free.

NoBroker also provides value-added services such as packers and movers, legal documentation, and online rent payment. With its zero-brokerage unique selling point, the startup currently operates across six cities in India.

“In the future, NoBroker’s product stack will also find relevance in several under-regulated developing markets around the world,” said Shantanu Rastogi, managing director of General Atlantic.

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Nearly 7.5 million properties are registered on the portal with over 16 million individuals having used NoBroker’s services, stated the company.