Delhi-based proptech startup HouseEazy has received fresh investments of $7 million from Series A funding (equity and debt) led by Chiratae Ventures. The other participants were from Alteria Capital and even existing investor Antler. The previous major fundraising was in December 2023.
HouseEazy was founded with the aim to transform the resale property market. The fresh capital is learned to expand its operations in the National Capital Region (NCR) and simultaneously explore some new geographies in the country. The funds will be allocated towards enhancing the capabilities of their platform and growing their team too.
Resale property market has been fragmented and inefficient. It involves multiple stakeholders and lengthy processes. HouseEazy is focused to disrupt the traditional model and offer a streamlined as well as technology-driven approach. HouseEazy co-founder Tarun Sainani said they have completely re-engineered the process of buying and selling homes and customers can now close transactions within 15 days.
HouseEazy simultaneously provides a comprehensive suite of services such as mortgage, legal and registry facilitation. It currently has a strong presence in Noida and Ghaziabad. It has also lately stepped into the Gurgaon market. Further expansion plan is on the card and soon they may enter major cities like Pune, Mumbai and Bengaluru.
Growth potential is enormous in the resale property market. Co-founder Deepak Bhatia said that the secondary market is twice the size of the primary market and is significantly less competitive. HouseEazy has already achieved a Gross Merchandise Value (GMV) Annual Recurring Revenue (ARR) of Rs 425 crore and expects to reach Rs 1,800 crore in the period of next 15 to 18 months from the NCR market.
