NoBroker is the first to establish unicorn real estate in India

With its current fundraiser, NoBroker has raised $361 million in multiple rounds so far. Over the next two fiscal years, property purchases are expected to account for nearly 60% of NoBroker’s revenue due to larger ticket sizes.

Real estate leasing and buying platform NoBroker announced Tuesday. That it had raised $210 million as part of a Series E funding round, led by General Atlantic, Tiger Global Management, and Moore Strategic Ventures.

Circle estimates NoBroker at $1.01 billion, making it the first real estate technology company (Proptech) and startup real estate company to achieve unicorn status. Unicorns are private startups worth $1 billion and above.

With current fundraising, the company has so far raised $361 million in multiple investment rounds.

NoBroker will use the current fundraising proceeds to expand its network in 50 other cities in India over the next two years. In addition, it will invest heavily in developing the technology and functionality of its products.

The company currently employs nearly 150 people in its technology and product functions. Next year he wants to double that number. The seven-year-old startup offers a technology-based no-middle real estate platform that enables consumers to buy. Sell and rent real estate across six subway stations Bangalore, Mumbai, Pune, Chennai, Hyderabad, and Delhi-NCR.

“We’re in a business where you can’t multiply tenfold with a one-month refund, but once you build something. No one can build it from you in a month, but once build, it’s a compelling Business,” said Amit Kumar Agarwal, Co-Founder, and CEO of NoBroker in partnership with Mint and VCCircle.

“In terms of funding, we will make our technology team stronger, expand to 50 cities over the next 2-3 years. And aggressively invest in our NoBrokerhood community app,” added Agarwal.