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HomeInsightFunding Alert Fractional ownership platform hBits raises ₹20 cr from angel investors

[Funding alert] Fractional ownership platform hBits raises ₹20 cr from angel investors

hBits, a startup that deals in commercial real estate, has raised Rs 20 crore from angel investors. The IIFL Chairman and Founder Nirmal Jain, Incred Capital, Jayesh Parekh, a former managing partner at Jungle Ventures, and Awdesh Krishna (Former Managing Director at Snow Leopard) all participated in the financing.

hBits, a startup that deals in commercial real estate, has raised Rs 20 crore from angel investors. The IIFL Chairman and Founder Nirmal Jain, Incred Capital, Jayesh Parekh, a former managing partner at Jungle Ventures, and Awdesh Krishna (Former Managing Director at Snow Leopard) all participated in the financing.

The real estate technology company intends to expand up a number of initiatives, including the purchase of new assets to manage, client acquisition, and future growth into newer cities.

Through the use of machine learning to compile historical sale and rental data, which is accessible to everyone on its platform, hBits provides investors with fractional ownership in grade A commercial properties.

Read also – [Funding alert] Evolve Raises Rs 3 Cr in Pre-Seed Funding Round

“Fractional ownership is gaining momentum with new players joining the band. The market is becoming competitive and exciting for everyone. Investors are taking up opportunities in a day for Grade A assets. With RBI (Reserve Bank of India) raising rates and other forms of investments losing sheen, fractional ownership will result in further impetus to investing in real estate assets”, hBits founder Shiv Parekh, said.

hBits is the most experienced and leading fractional ownership platform in the country, working at the intersection of real estate and technology.

“Technology-led platforms like us are making the entire process of investment and fractional ownership simpler than ever before… It is a perfect entry point for new investors, as it offers a uniquely safe and secure investment option with long-term income and confirmed monthly cash flow in an otherwise high-risk market,” said Samir Bhandari, chief financial officer, hBits.

At present, hiBits uses machine learning to gather historical sale and rental data to provide access to its users. It has around 1.5 lakh square feet of area under management in eight assets that the company mangaes in Mumbai.

Read also – [Funding alert] Anveshan raises $2 mn in pre-series A round

“We are excited to partner with Shiv and the team at hBits. The company’s razor-sharp focus over the past few years has led to an impressive track record, sound economics and the necessary technology infrastructure to accelerate the building momentum. We see a tremendous opportunity ahead and look forward to seeing hBits delight many more customers,” said Chris Kolenaty, founder of Snow Leopard Ventures.

About hBits

Re-imagine real estate with hBits. India’s leading fractional commercial real estate platform with over 40,000+ registered users. Make smarter investments with us today.

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