[Funding News] Proptech Startup HouseEazy Secures $7 Mn Funding Round

Prop-tech startup HouseEazy raises $7 million in funding from Chiratae Ventures, others

HouseEazy, a full-stack marketplace for resale homes, has raised $7 million in Series-A funding. This round was a mix of equity and debt led by Chiratae Ventures, and participation was seen from Alteria Capital and existing investor Antler. The company had previously raised the seed financing round 7 months back in December 2023.

The funds will be utilized to fuel the organization’s growth across new geographies in NCR, strengthening brand presence, team expansion, and product enhancement.

HouseEazy provides real-time price quotes to sellers backed by a proprietary machine-learning algorithm with over 1.5 million data points. Sellers can conclude their transaction instantly at the best price thereby eliminating the need for multiple meetings and negotiations. For buyers, it provides access to exclusive, refurbished inventory that they can shortlist from the comfort of their home, with the help of cutting-edge AR/VR tools like 3D walkthroughs and virtual staging. The platform also offers mortgage, legal, and registry facilitation services that make it a one-stop shop for all resale customers.

Read also - Goodveda Plans to Raise $1 Mn to Fund Growth Plans

The company already has a strong presence in the cities of Noida and Ghaziabad and has now entered the Gurgaon region. It further plans to expand its presence in tier 1 cities like Pune, Mumbai, and Bangalore and aims to become India’s biggest and most loved home resale platform.

Tarun Sainani, Co-founder, HouseEazy, said: "In the primary market, the real estate developer typically serves as the anchor, but no single player was addressing all the needs of resale buyers and sellers. These transactions were traditionally conducted with multiple stakeholders, leading to inherent risks and lengthy closure times. We've completely re-engineered the process, enabling customers to buy or sell resale homes in under 15 days on the HouseEazy platform with 100% safety. In a short period, we've already served over 1,000 customers by providing a super-convenient, trustworthy, and transparent end-to-end solution".

Deepak Bhatia, Co-founder, HouseEazy, said: “We have already hit a GMV ARR of Rs. 425 Cr, and expect to hit Rs. 1,800 Cr GMV ARR in the next 15-18 months from the NCR market alone. Our asset-light model and quick turnarounds backed by a 2000-strong channel partner base have enabled us to scale rapidly across markets. The potential of this business is to become bigger than many pan-India developers, as the secondary market is 2x that of primary, with very little competition and a deep customer need gap that is consistent across geographies.”

Anoop Menon, ConsumerTech Sector lead at Chiratae Ventures, said: “The $90 billion secondary real estate market, which is completely unorganized and fragmented, is ripe for disruption. No platforms in the past have been able to address the pricing black box, timeline uncertainty, and scattered inventory issues that have plagued the home resale market for decades. HouseEazy, with its unique model and vast founder experience, has built an end-to-end solution with exclusivity on supply and distribution. The company has shown significant traction in a short span of time, and we are excited to partner with them as they create the go-to destination for pre-owned home transactions in India.”

Advertisment

About HouseEazy

Founded in 2021 by Tarun Sainani and Deepak Bhatia, HouseEazy is a new-age digital platform that aims to revolutionize residential resale transactions by making them transparent, simple, and quick.

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.

Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.

Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.