Introduction
Whatever has to do with land, explicitly as a buyer has forever been tangled and irritating. The consistent push from the dealers, pestering from the brokers, absence of liquid correspondence, and running pell-mell to finish the administrative work is a portion of the normal detestations from the universe of genuine estate. Founded in 2014, NoBroker is a Bangalore-based startup in the land search space, which associates level and landowners with inhabitants and purchasers straightforwardly through their foundation, in this manner making purchasing, selling, and leasing of properties easier, straightforward, and reasonable.
Case Study
Akhil Gupta, Amit Agarwal, and Saurabh Garg additionally considered working on this miserable situation and established an answer as NoBroker. Established in 2014, It is a Bangalore-based startup in the land search space, which associates level and landowners with occupants and purchasers straightforwardly through their foundation, subsequently making purchasing, selling, and leasing of properties easier, straightforward, and reasonable.
NoBroker.in professes to deal with around $2 billion worth of exchanges on its foundation every year and has previously assisted the Indian land clients with saving over INR 5000 crores in business to date. The stage assisted them with saving around Rs 1,100 crores worth of business in 2020 itself. The organization further endeavors to assist the Indians by introducing another period of smooth and simple land exchanges short the “merchants.” The startup turned into a unicorn on November 23, 2021.
Company Profile
| Startup Name | NoBroker |
| Headquarters | Bangalore |
| Founders | Amit Kumar Agarwal, Saurabh Garg, Akhil Gupta |
| Founded | 2014 |
| Sector | Proptech, Real Estate |
| Elevator Pitch | NoBroker is a disruptive brokerage-free real estate portal that enables rent/buy/sell transactions by eliminating the middleman. |
| Employees | 1000+ |
| Total Funding | $424.5 million (November 2021) |
| Website | Nobroker |
| Registered Entity Name | NoBroker Technologies Solutions Private Limited |
Founding Members
It was established by Amit Kumar Agarwal, Akhil Gupta, and Saurabh Garg.
Amit Kumar Agarwal is the Co-founder and CEO of NoBroker.
Akhil Gupta fills in as the Co-founder, Chief Tech, and Product Officer of NoBroker.
Saurabh Garg goes about as the Co-founder and CBO of the organization.
NoBroker as of now works with a group of 1000+ exceptionally energetic people reliably attempting to offer better administrations to over 1.25 crore, blissful clients, across Bangalore, Mumbai, and Pune, Chennai, Hyderabad, and Delhi-NCR.
Product and Services
NoBroker.in tends to the hole of data imbalance that the Indian homebuyers face in its housing market. Its problematic arrangement interfaces property searchers with landowners, an interaction that previously used to cost as much as 1-2 months of lease or 4% of the exchange sum as a business. The stage additionally furnishes customized proposals and helps with dynamics in light of constant information.
The stage offers to start to finish one-stop answers for property searchers including administrations like tenant contracts, movers and packers administrations, home credits, insides, unique bundles for NRIs, migration administrations for corporates, distant property the executive’s administrations, and so forth. It additionally works with online lease installment through Mastercards, check cards, net banking, and UPI wallets.
Business Model
NoBroker goes about as a computerized shared stage that permits property holders/dealers and forthcoming inhabitants/purchasers to associate straightforwardly without the contribution of a specialist. It gives a membership plan of action to clients who are hoping to purchase, sell or lease a property.
It has 3 income models:
Freemium model for occupants
Opportunity plan
Relax Plan
MoneyBack plan
Aside from that, NoBroker likewise offers a variety of home administrations like packers and movers, home cleaning, homework of art, insides, and much more. These are likewise among the prominent wellsprings of income for NoBroker.
Challenges
Real estate is a huge sector and a vastly unorganized one. For ages, it had depended on customary cycles, which included an outsider. The historical backdrop of financier administrations can likewise be followed down to the earliest foundations of land. The group, subsequently, centered around the most crucial test looked by land clients: the assistance they were getting was not similar to what the client paid for it.
As there was data deviation, individuals had no choice except to depend on intermediary administrations. Land stages have been around for quite a long time and have attempted to address the issue of data lopsidedness. Notwithstanding, they couldn’t get merchants far from the framework. This drove dealers to take advantage of the framework to their advantage.
Their methodology contrasted with the other internet-based land stages in that they were basically restricting property expedites and inspiring them to list properties on their foundation. Then again, the group associated proprietors with vendors and inhabitants with purchasers straightforwardly. On account of this methodology, NoBroker’s offer tracked down an ideal gathering with the clients. NoBroker has the biggest number of proprietor-recorded properties.
Funding and Investors
NoBroker has raised a complete subsidizing of $424.5 million to date. The organization raised $210 mn from its Series E financing date driven by General Atlantic and Tiger Global Management, dated November 23, 2021, where the US-based Moore Strategic Ventures likewise joined later on. This has shot the valuation of the startup the north of a billion bucks, consequently making it India’s first prop tech (property tech) unicorn startup and the 38th Indian startup to be a unicorn in 2021.
It had last gotten around $30 million from its Series D round drove by General Atlantic on April 16, 2020.
Paytm’s Vijay Shekhar Sharma and Anand Chandrashekharan, ex-Facebook are among the private backers of the organization. Tiger Global, General Atlantic, and BEENEXT are a portion of the well-known financial backers powering the brand.
Growth and Success
NoBroker.in assisted Indian land clients with saving over INR 5000 crore in financier to date. The stage keeps on seeing in excess of 20,000 individuals tracking down a property through NoBroker in a month. It has 1.25 crore, enlisted clients, across Bangalore, Mumbai, Pune, Hyderabad, Chennai, and Delhi-NCR, making it the world’s biggest P2P land stage. The stage likewise takes special care of the business property portion.
NoBroker has opened its very first experience community in Bengaluru, according to reports dated March 31, 2022. This denoted the proptech unicorn’s entrance into the home insides market. The Bengaluru-based organization has arranged speculation of Rs 100 crore now on this new pursuit, which would put the sum in showcasing and employing. According to the most recent news, the home insides arm of NoBroker has as of now onboarded 50+ plan accomplices, and served north of 100 clients in the city to date.
Awards
It is a market chief in client-to-client land exchanges and driving outsider support have perceived something similar,
- It was essential for the world-class ‘Champions of Change’ with the Prime Minister of India coordinated by the NITI Aayog.
- NoBroker.in has been perceived as the “Coolest Startup” by the India Today Group.
- The organization got was recognized as the most encouraging startup for 2017, an acknowledgment that it got from the Govt. of Gujarat.
- It was additionally perceived by Forbes Japan as one of the 20 hot new companies in India.
- It was recorded as one of the main 100 new businesses (36 on perusers rating) with gravity-resisting force to gaze upward to in 2017 by YourStory.
- NoBroker packed away the Digital Marketer of the Year grant by IAMAI in 2018.
- Most of late, the organization got an honor at the Emerging Awards by Tracxn where it was proclaimed as one of the highest organizations in Real Estate Tech from across the globe.
FAQ
Who are the Founders of NoBroker?
It was established by Amit Kumar Agarwal, Akhil Gupta, and Saurabh Garg.
What is NoBroker?
It is a Bangalore-based land search entryway, which interfaces level proprietors with occupants/purchasers straightforwardly and makes the purchasing and selling of land less difficult. It eliminates the requirement for intermediaries in land-related dealings.
What is the Revenue of NoBroker?
It’s income from activities shot up by 250.3% in the span of a year to arrive at Rs 63.34 crore in FY20, which was just Rs 18.08 crore in FY19.
How NoBroker bring in cash?
Around 70% of NoBroker’s income comes from the membership plans it offers on different bundles. Promotions from furniture new companies likewise contribute altogether as NoBroker claims over 2.5 million client visits to its site each month. NoBroker likewise procures income by offering administrations, for example, interfacing inhabitants with movers and packers, drafting tenant contracts, and broadening a wide scope of home administrations.
Conclusion:
The article provides you with all the information right from its starting journey to the current plans. The thought originally developed after the dreadful encounters that we and by had with representatives while searching for a property. The wide range of various web-based stages are likewise advertising stages for agents and it is truly challenging to contact proprietor/dealer straightforwardly.
This reliance on the intermediary made the experience awful for the client. Merchants subject clients to predispositions, tensions, and controls. With this thought, NoBroker has become one of the biggest Real estate dealing companies in a very short span of time.
I am Twinkle Jain, and I am very passionate about writing blogs. I am excited to share my thoughts on startups, case studies, and listicle topics, exploring these areas with enthusiasm and creativity.