NoBroker operates a digital-first platform that lets users buy or rent homes without paying broker fees and manages related services. The company lists more than 7.5 million properties and says over 16 million people have used its services. Over time it has expanded into financial services (including rent-related products) and home services such as cleaning, furniture and movers and packers. It also runs NoBrokerhood, a community management service that lets residents connect, manage visitors and buy/sell within societies. NoBroker currently operates in major Indian cities including Bangalore, Delhi, Pune and Hyderabad and says it has grown three times year-over-year as mobility resumed. The founders plan to use fresh funds to expand to 50 cities over the next two to three years and deepen investments in resale and primary-sale verticals. NoBroker operates an online platform that connects people looking to rent or buy apartments directly with property owners, avoiding broker fees. Beyond listings, it has expanded into services including gatekeeping/society management, moving and packing, home loans, tenancy agreements, furniture and decor, and grocery partnerships. The company markets products such as NoBroker Pay, NoBroker Hood and NoBroker Home Services to deepen engagement and become a one-stop solution for tenants and owners. It has grown to serve a dozen cities after adding six in three months and reports more than 3.5 million properties registered and over 8.5 million individuals served. Its society-management service is used by over 2,000 societies housing more than 500,000 residents. NoBroker has begun monetizing new categories by taking a 10–20% cut on leads and has pursued partnerships such as with BigBasket to expand offerings. NoBroker is a Bangalore-based startup that connects renters and buyers directly to property owners to avoid real estate brokers. It operates over 2.5 million properties on its website and has served more than 6 million users to date, up from 1.5 million two years ago. The company generates revenue by limiting non-paying users to contacting nine property owners unless they pay for more contacts, and by selling services to property owners who pay for NoBroker representatives. NoBroker says it is increasingly reaching profitability. The startup will use the new capital to expand operations across India and to invest in its home store and financial services products. It faces competition from players such as NestAway and Oyo and local resistance from brokers, who have reportedly harassed employees and forced the company to delist its address from Google Maps. NoBroker is an India-based property startup that connects property owners with prospective buyers and rental tenants directly without brokers. The company operates in four cities — Bangalore, Mumbai, Chennai and Pune — and says it has served 1.5 million customers to date, with 500,000 cumulative listings and 600,000 Android app downloads. It began monetizing for tenants earlier this year and has launched two initial packages for homeowners, estimating about 1,000 monthly paying homeowners after phasing out the free option for house hunters. Founders Amit Agarwal and Akhil Gupta say the business helps customers save roughly $3 million per month in broker fees. The company aims to reach breakeven within 24 months and says total capital raised now stands at over $20 million, which should provide roughly three years of runway. NoBroker plans to focus on building leadership in its current four cities before expanding into five or six more over the next 18 months and has piloted an unannounced test in Manila, though it is not prioritizing overseas expansion now. NoBroker operates a peer-to-peer rentals marketplace that connects homeowners and prospective tenants to remove brokers and agents from rental transactions. The service is live in four Indian cities, lists around 250,000 properties, and has about 650,000 registered users, facilitating roughly 500,000 connections per month. Its "click and earn" program generates roughly one-third of new listings by paying users to submit photos and details of offline properties. The company has begun monetizing through a freemium model with paid packages priced at 999 INR and 1,999 INR and provides customized legal rental documents to tenants. Management says about half of the previous round's funds remain in the bank and they expect to break even within the next 18 months. After consolidating its current cities and achieving profitability, NoBroker plans to target international expansion in Southeast Asia and Japan.

Total raised

$311M

Funding rounds

6

Latest round

Series E

Latest activity

Nov 2021