Leading tech-enabled real estate rental platform, Grexter, received and investment of $1.5 million from seed funding firm, Venture Catalysts, to aid in the rental accommodation platform's endeavor to help students and young professionals in India.
Grexter has raised the capital as part of its Pre-Series A funding round and it aims to leverage the funds for enhancing the inventory it offers as well as to ramp up its technology architecture.
Investors who participated in this funding round include Arisht Jain of Samyakth Group; Vikas Bohra and Vishal Shah in addition to the participation from developers, HNIs, real estate professionals, family offices, private equity funds, wealth management companies and others.
Speaking on the investment, Dr. Apoorv Ranjan Sharma, Co-founder and President of Venture Catalysts, said,
The rental accommodation sphere caters to one of the most basic needs of consumers yet it continues to be highly fragmented and plagued with key problems pertaining to quality, transparency and high brokerage fees. Grexter eliminates all these lacunae with its unique and tech-driven business model. It is also creating a robust co-living ecosystem in India and we are certain that it will successfully capture a lion’s share of the USD 20 billion accommodation rental market through its innovative approach.
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