The investment is led by Girish Gulati, ahead of planned SME IPO
Funding will support the firm’s expansion across multiple cities in India and fructify its plans to enter international markets
Bengaluru, NFAPost: Homesfy Realty, a fast-growing company in the real estate broking sector, has raised $1.1 million from early-stage growth investors Girish Gulati, Dnyanesh Bhatavadekar, Neha Idnany, Yogesh Bagaria, and Amit Bagaria.
The company is planning to list on the Indian bourses and has filed its draft red herring prospectus (DRHP) for SME IPO with NSE Emerge. The proceeds from the proposed offering will be used by the company for its Working capital requirements, General corporate purpose, and organic growth, the firm said in a statement.
Girish Gulati, who is a veteran investor in the public equity markets, said real estate is poised to be a $1.5 trillion industry in the near future.
“As real estate developers consolidate market share via launches and construction velocity, they need the right partners to drive sales. Through the use of proprietary technology tools, rigorous processes, and talented sales agents, Homesfy simplifies the home-buying experience and is positioned to lead the channel partner sales for all major developers across India,” said Girish Gulati.
Homesfy.in & MyMagnet.io. Founder & CEO Ashish Kukreja said buying a home for personal use or as an investment continues to be a popular choice in the country.
“Due to the pandemic, even the reluctant youth has realized the advantages of investing in hard assets. This, coupled with the regulatory framework coming into the real estate sector through RERA, has paved the way for a growing interest in real estate transactions,” said Homesfy.in & MyMagnet.io. Founder & CEO Ashish Kukreja.
He also pointed that Homesfy started its journey with the aim to simplify the home-buying process. “With the new strengths coming in and this fund-raise, Homesfy is committed to delivering growth to its employees and investors and satisfactory services to its customers,” said Homesfy.in & MyMagnet.io. Founder & CEO Ashish Kukreja.
Currently, Homesfy is headquartered in Mumbai and has an operational presence in 4 cities in India including Pune, Bengaluru, and Delhi NCR. With a team strength of nearly 400 employees, the firm partners with all reputed builders in the country to facilitate their real estate sales.
The company has recently initiated the process of acquiring EQServ, a Mumbai-based real estate broking firm that has been facilitating residential property sales for category A+ developers across the city.
Founded a decade ago, Homesfy quickly became self-sufficient and expanded to facilitate bookings totaling Rs 1,650 crore on its platforms in the last financial year.
