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Fosun International Ltd, is in initial talks to invest about $100Mn in Locon Solutions Pvt. Ltd, the owner of property website Housing.com. Housing has been approached by Fosun’s investment arm where Housing’s CEO Rahul Yadav met with Fosun Group Management in last week of May. It has been reported that if the deal goes through, Housing will enter a new line of business. The company has been working with real estate developers to sell them pre-designed buildings which can then be sold on the real-estate portal.
Given the huge number of real estate developers in the country, which develop everything from design and construction to sales and marketing. If the deals go through, Housing plans to work with these developers to sell them pre-designed houses which will be marketed and sold on the website. Even though such a model is difficult to implement but given ease of online enquiries, it is a useful source of information for developers.
This is Housing’s fifth round of institutional fund raising. Till date, the company has raised about $140Mn from investors including, Qualcomm Ventures, Nexus Venture Partners, DST Global Lp, Falcon Edge Capital Lp, SoftBank Corporate, Digital Nirvana Fund Co. Ltd and Helion Venture Partners III Llc. across four rounds.
The company claims that its traffic has increased by over 20 times over last six months and has attracted over 11Mn total visits in April.
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