FastFox is an online-to-offline rental brokerage that partners with brokers to list and rent residential properties. Founded in 2014 by Anshul Gupta, Mukul Bhati and Pallav Pandey and based in Gurgaon, it enables home seekers to view pictures and detailed information, schedule visits and meet owners or caretakers. The company claims over 2,500 home listings and monetizes through a brokerage model, charging customers after a successful deal while avoiding listings with rent below Rs 15,000. Its parent company Oku Tech owns BroEx, an exchange platform to help verified brokers find inventory and enable faster deals. FastFox plans to use the recent funding to scale geographically. Prior financings and current traction position it to expand within the sizable residential rental market described in industry reports included in the article. FastFox provides tech-enabled home rental brokerage services and is currently the largest player in Gurgaon. The company charges 15 days brokerage fees for customers. It is part of Realty-focused IT firm Oku Tech, which also runs broker-networking app BroEx. Oku Tech, founded in 2014 by Pallav Pandey and Mukul Bhati, acquired Professional Brokers and renamed the combined entity FastFox. FastFox plans to use new capital to improve its technology solution, develop its service-delivery model, and expand engineering, sales and operations teams. The company intends to expand to Noida, Pune, Bangalore and Mumbai within the next 12 months and previously raised around Rs 6.4 crore from Lightspeed India Partners in 2015. Oku Tech, founded in 2014 by Pallav Pandey and Mukul Kumar and based in Gurgaon, operates BroEx, a mobile-first networking app for real estate brokers. BroEx helps brokers find inventories and requirements with trusted peers, share information, and access sale and rental listings to close deals faster. The company says its network is leveraged by 25,000 brokers across major cities including Delhi-NCR, Mumbai, Bangalore, Pune, Ahmedabad and Jaipur. Oku Tech plans to use new funding to expand its presence into tier I, II and III Indian cities, invest in product development, and launch complementary products and services for brokers to facilitate transactions. Management positions the platform to “power transactions” and consolidate its role as a preferred broker network and communication channel. BroEx cites a broader market it estimates is dominated by 500,000 independent brokers and generates about $4 billion in annual brokerage fee income for sales and rentals.

Total raised

$7M

Funding rounds

3

Latest round

Series A

Latest activity

Feb 2018