Bengaluru-based NoBroker, which was launched in 2013, has raised the fund at $1 billion valuation to become the first unicorn in proptech sector.
The Series E funding round was led by General Atlantic, Tiger Global Management and Moore Strategic Ventures.
“We have raised $210 million fund from investors for our expansion plan,” NoBroker.com Co-Founder Akhil Gupta said.
With the latest funding round, the company has so far raised $361 million. “We founders have diluted stake to raise funds, but we have the control,” NoBroker.com Co-Founder-CEO Amit Agarwal said. The fund will be utilised for expansion and to fuel growth. It plans to use the money to penetrate deeper into 6 cities where it has presence and expand operations to 50 cities as well as to expand its society management app NoBrokerHood.
It operates across six cities: Bangalore, Chennai, Delhi-NCR, Hyderabad, Mumbai and Pune.