Exclusive: Google-Backed NoBroker To Become The First Proptech Platform To Onboard ONDC

Exclusive: Google-Backed NoBroker To Become The First Proptech Platform To Onboard ONDC

SUMMARY

NoBroker is currently working on technical issues and will onboard ONDC as a buyer side app in a week or so

The Google-backed proptech platform claims to be the largest real estate platform in India with a user base of 250 Mn and more than 10 Mn property listings

The move comes as a shot in the arm for ONDC, which has been expanding steadily and has onboarded big players like Amazon, PhonePe, Delhivery, Shadowfax, among others

Google-backed proptech unicorn NoBroker is likely to soon join the Open Network for Digital Commerce (ONDC), becoming the first proptech platform to onboard the government-backed network, top sources privy to the development told Inc42.The development comes more than a month after NoBroker raised $5 Mn in an extended  Series E round from tech giant Google. Tiger Global, General Atlantic, and Moore Strategic Ventures are among the other marquee investors which participated in NoBroker’s Series E round. As a majority of workplaces have now returned to work-from-office mode after the pandemic-led disruption, property prices and rentals have spiked substantially across the country since last year, especially in metro cities, as per an analysis by another proptech platform MagicBricks. This in turn translates to more demand and business for platforms like NoBroker. According to a recent report, Axis Bank was also in talks with ONDC to launch a consumer-facing ecommerce platform on the network. However, the move has not materialised so far, the sources told Inc42.

The proptech startup is currently working on technical issues and will onboard ONDC as a buyer side app in a week or so, the sources added.

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