Indian Challenger Portal NoBroker Secures International Investment

April 15, 2020
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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%.

April 15, 2020
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

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