India Property Online Pvt. Ltd., the holding company of online real estate classified portal IndiaProperty.com, has announced a Series B funding of USD 12 Million led by Bertelsmann with participation from existing investors Canaan Partners and Mayfield Fund.
IndiaProperty.com offers one-stop property marketing solutions serving builders, real estate agents and home owners to sell or rent their properties, while offering a feature rich interface for property buyers to search and identify properties that match their requirement.
Ganesh Vasudevan, CEO of IndiaProperty, said: “Over the last two years we have emerged as the fastest growing player in the industry, operating in the top 20 cities in India and intend investing the capital raised into growth initiatives. Our existing investors, Canaan and Mayfield, have also participated in this round - an endorsement of our strategy and execution.”
Pankaj Makkar, Managing Director of Bertelsmann India Investments, who will also join the Board of IndiaProperty, said: “IndiaProperty has attained an attractive position in the Indian real estate market, especially in the new properties segment, through its great execution abilities, a differentiated offering for the customer and all the right attributes to be a leader in this space. Therefore we are excited to be IndiaProperty’s future partner.”
Edited by Gordana Davila