Housing.com Raises $14.7 Mn From Softbank

Real estate portal Housing has raised $14.7 Mn (INR 100 Cr) in a fresh round of funding from Softbank.

The company said that the funding will be used to drive its new strategy and growth plans.

Jason Kothari, CEO of Housing said, “Softbank is one of the world’s largest and most successful investors.  Their continued support as both investors and advisors to Housing.com is invaluable to us and signifies their long-term commitment to the company

Over the last few months, Housing has been rapidly building its business. It has expanded its senior management team, established a strategic multi-year partnership with MCHI and CREDAI, created the first virtual real estate expo that resulted in gaining 60,000 home buyers and released a first-of-its-kind innovative branding solution for premier developers called BRAND FALCON. The company is now working with over 40,000 developers and agents.

Jason added that the company is now well-capitalized to aggressively execute on its focused strategy and growth plans.

The company said in the statement that it has established a focused strategy on buying and selling homes. With 85 million visits in 2015 and 1.7 million verified listings to date, Housing is building scalable revenue streams around its product, demand and supply, and facilitating and fulfilling transactions.

Earlier this month, there were speculations that Snapdeal was looking to acquire Housing. Interestingly, SoftBank is the common investor for both the companies.

Founded in 2012, the valuation of Housing.com stood at INR 1,500 Cr. ($250 Mn) during its last round of funding which saw an investment of $90 Mn from SoftBank in November 2014.

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