While $5 Mn is in the form of equity, the remaining $2 Mn has been infused in debt
JUSTO plans to utilise the proceeds from the fundraise to accelerate its growth and expand its market presence
Founded by Pushpamitra Das and Rahul Pande in 2019, JUSTO Realfintech offers end-to-end solutions to help real estate developers drive sales growth, especially for group housing projects
Mumbai-based proptech startup JUSTO Realfintech has reportedly raised $7 Mn (around INR 58.8 Cr) from investment management firm Arbour Investments in a mix of equity and debt infusion.
While $5 Mn is in the form of equity, the remaining $2 Mn has been infused in debt, Arbour Investments said in a statement.
Founded by Pushpamitra Das and Rahul Pande in 2019, JUSTO Realfintech offers end-to-end solutions to help real estate developers drive sales growth, especially for group housing projects.
The startup has presence in Mumbai, Navi Mumbai, Pune, Bhubaneshwar, Kolhapur, Aurangabad and Nashik. It claims to have delivered 9,000 housing units so far, generating sales of more than INR 6,000 Cr.
Through the partnership, Arbour Investment aims to tap JUSTO’s expertise in the mid-ticket size property segment to expand its service offerings, the company said.
Additionally, the stake acquisition will also enable Arbour Investments leverage JUSTO’s established client base and enhance its project management capabilities.
Commenting on the investment, Chirag Mehta, founder of Arbour Investments, said, “Justo’s expertise and market presence provides us with an unparalleled opportunity to diversify our portfolio and enhance the value we deliver to our clients. We are confident that this partnership will drive significant growth and innovation in the sector.”
Meanwhile, Das said that JUSTO plans to utilise the proceeds from the fundraise to accelerate its growth trajectory and expand its market presence.
The development comes at a time when homegrown proptech startups are seeing significant interest from investors. For instance, last month, HouseEazy raised $7 Mn in its Series A funding round led by Chiratae Ventures.
In the same month, Truva also raised $3 Mn (around INR 24.9 Cr) in a seed funding round led by Stellaris Venture Capital.
Prior to that, in June, proptech startup Landeed raised an undisclosed amount as a part of its ongoing seed funding round from Paradigm Shift VC.
