David Corbin · · 1 min readSoftbank is back. Now with $90M for India’s Housing.com
On the heels of a healthy, US$19 million round this June, Housing.com has scored a new investment of US$90 million, led by Japan’s Softbank. The investment will further fuel Housing.com’s rapid growth.
When we first took a look at Housing.com in Februrary, the startup was a little over one year old, had raised three rounds of funding, and was live in 11 cities. Now, the firm says it is powered by 1,500 employees who are active in 45 cities and manage 350,000 listings.
The Softbank deal has been rumoured for a few weeks. Many media outlets reported that SoftBank would acquire a 30 percent stake for US$70 million. The pre-money valuation was at US$250 million. Those details were never confirmed by either company, but the reality seems to be even rosier for Housing.com.
The startup is the latest beneficiary of Softbank’s largesse but it is unlikely to be the last. Earlier this year, the Japanese conglomerate announced that it intends to put US$10 billion into the bustling subcontinent. This, like many of Softbank’s recent headline-grabbing investments, was lead by new executive Nikesh Arora.
See: Poached! Google’s Chief Business Officer joins Japanese telco giant SoftBank
Editing by Malavika Velayanikal, image from Ashish Tibrewal
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