Indian Challenger Portal NoBroker Secures International Investment

Bangalore based property portal NoBroker has raised $29 million as part of an ongoing C-round. The money comes from New York based private equity firm, General Atlantic who had already participated in NoBroker’s funding to the tune of $50 back in June 2019.

As the name suggests, NoBrokers USP is that they connect owners directly without intermediaries. The funding event comes on the back of its acquisition of Gurgaon based resident management system, Society Connect back in February.

With international funding, the company aims to take on the incumbent heavyweights of the Indian portal scene, namely Magicbricks and 99acres. The company is now reportedly valued at $372 million and General Atlantic have become the largest shareholder with a stake over 30%.