About six months after Inc42 reported that HouseEazy was in advanced discussions with investors to raise fresh capital, the proptech startup has now announced the raise of INR 150 Cr ($16.9 Mn) in its Series B funding round.
The round was led by Accel, with participation from existing investors Chiratae Ventures and Antler among a few undisclosed investors.
It intends to utilise the fresh capital to enable expansion into new cities like Pune, Mumbai and Bengaluru, further build its tech stack, and grow its brand proposition.
"In just three years, we've helped over 2,500 homeowners transact properties worth more than INR 2,000 Cr. Our GMV ARR has doubled YoY to reach INR 850 Cr, with strong unit economics. With this new funding, we're ready to expand HouseEazy into new cities and unlock adjacent business lines,” HouseEazy’s cofounder Tarun Sainani said.
Founded in 2021 by Sainani and Deepak Bhatia, HouseEazy operates a platform that facilitates buying and selling pre-owned apartments in cities like Noida, Ghaziabad, and Gurgaon, aiming to simplify residential resale transactions by removing intermediaries and commissioned agents.
The platform also offers instant deal closures, legal due diligence, minimal paperwork, AI-powered pricing based on market, registry, and past transaction data, and does not charge fixed fees to buyers or sellers.
In April, Inc42 learnt that HouseEazy was in advanced discussions with investors to raise INR 100 Cr from an unnamed VC firm and existing investor Chiratae Ventures. Back then, sources told us that the startup was eyeing to extend its Series A round, which saw it raise $7 M (about INR 58 Cr) in August 2024.
On the financial front, HouseEazy turned profitable in FY24. It posted a net profit of INR 38 Lakh in the fiscal as against a loss of INR 44 Lakh in FY23. Its operating revenue surged 3X to INR 10.7 Cr from INR 2.8 Cr in the previous fiscal year. It is yet to disclose its financial performance for the fiscal year FY25.
Higher disposable income and rapid urbanisation have been pushing Indians to be more open to real estate investments. This sentiment is also spurred by attractive deals for house purchases.
With this, India's proptech market is expected to reach $4.29 Bn by 2031, rising at a CAGR of 16.95% from $1.66 Bn in 2025, as per Research and Markets data.
Betting on this market opportunity, Nikhil Kamath's investment firm Gruhas joined hands with real estate major Brigade Group to launch an INR 300 Cr Earth Fund for investing in proptech and sustainability-focused startups, in March.