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

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 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.

NoBroker and ONDC declined to comment on Inc42’s queries on the development. 

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. 

NoBroker joining ONDC’s buyer side apps will further the platform’s user base by bringing in people looking to rent, lease, buy, sell properties without the involvement of brokers. 

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. 

Founded in 2014 by Saurabh Garg, Akhil Gupta and Amit Agarwal, NoBroker claims to be the largest real estate platform in India with a user base of 250 Mn and more than 10 Mn property listings. It also has tertiary real estate offerings, including packers and movers, rental agreement services and painting and cleaning for houses. 

NoBroker also operates a residential community management platform, NoBrokerHood, which offers services such as visitor management, financial management, home services, and community management, among others.

The startup became India’s first proptech unicorn in 2021 after raising $210 Mn in its Series E round.

ONDC Gathers Steam

Nearly a year after ONDC began its pilot phase in select cities, the network has expanded to multiple cities and is growing rapidly, having onboarded tech platforms across various industries in quick succession. 

Walmart-backed PhonePe recently launched hyperlocal commerce delivery app Pincode on the platform. In February, Amazon also announced that it would integrate its SmartCommerce services and logistics network with the ONDC.

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.

In the mobility category, ONDC has onboarded Bengaluru-based auto booking app Namma Yatri. 

Besides, ONDC has also onboarded various logistics players like Shiprocket, Delhivery, Shadowfax, Loadshare, and Reliance-backed Grab. 

The sources also said that many other tech players across industries are lining up to join ONDC as it plans to expand to more cities in future.

The government has been touting the ONDC platform as the UPI for the ecommerce industry. It aims to democratise ecommerce in the country by enabling small businesses and retailers to become part of the growth in the sector. 

Riding on increasing internet and smartphone penetration, the ecommerce sector in the country has grown by leaps and bounds over the last few years and is estimated to become a $400 Bn opportunity by 2030.