The brokerage industry will witness a major transition and particularly in the real estate segment. Mumbai-based proptech startup Jugyah has successfully secured $1.5 million in a funding round led by White Venture Capital, QED Investors and Godrej Properties. The other notable participants were from Whiteboard Capital, Singularity Ventures and a couple of high-profile angel investors like Kunal Shah, Harsh Jain and Ramakant Sharma.
Jugyah was founded by Arshad Balwa and Ansuman Mohanty in 2023. The primary aim of it is to redefine how property transactions are conducted. The new capital is learned to be used to expand reach within the Mumbai Metropolitan Region. Its innovative platform connects property buyers and tenants with sellers and landlords. It also offers in-house mortgage origination to facilitate financing.
Balwa said that their mission is to solve the home buyer and renter’s problems, but they need to re-architecture the entire home sale and rental value chain from first principles. They have realized that listing platforms are surface level and mostly fail to solve the search and discovery problem.
The strategy of Jugyah involves vertically integration of all the steps in home buying and renting process through a digital platform that is combined with a physical experience center. It is a “phygital” approach and includes unique features like legal assistance and loan financing. It creates a standardized and efficient method for finding a home.
One notable feature is its e-KYC procedure and credit assessment for tenants. The model ensures landlords may even select credit-verified tenants. Buyers enjoy several benefits such as free seepage warranties, legal support and zero-commission mortgage pre-approval. Jugyah has also set up offline experience centers in South Mumbai and Navi Mumbai to make the platform more popular and provide personalized assistance.
