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HomeInsightFunding Alert Proptech startup PropReturns raises funds from Kunal Shah, others

[Funding alert] Proptech startup PropReturns raises funds from Kunal Shah, others

Real estate investment platform PropReturns has raised an undisclosed amount in strategic funding round from a clutch of investors including Kunal Shah (Founder, CRED), Varun Alagh (Co-founder, Mamaearth), Gokul Rajaram (Board Member, CoinBase and Pinterest), Sandeep Agarwal (Co-founder, ShopClues and Droom), Nitin Jain (Co-founder, O'AgriFarm), 1947 Rise, and Karan Virwani (CEO, WeWork India), among others.
Kenish Shah, Somil Mathur and Jayant Panwar founders of PropReturns

Real estate investment platform PropReturns has raised an undisclosed amount in strategic funding round from a clutch of investors including Kunal Shah (Founder, CRED), Varun Alagh (Co-founder, Mamaearth), Gokul Rajaram (Board Member, CoinBase and Pinterest), Sandeep Agarwal (Co-founder, ShopClues and Droom), Nitin Jain (Co-founder, O’AgriFarm), 1947 Rise, and Karan Virwani (CEO, WeWork India), among others.

The startup plans to access the funds faster by adding more asset classes. It will also aim to increase the investor base and partner with more channel partners/real estate brokers, developers and property owners.

The Mumbai-based PropReturns was founded in 2021 by BITS Pilani graduates Kenish Shah, Jayant Panwar, and Somil Mathur, It lists rent-generating commercial properties, plots, distressed opportunities, REITS and real estate loans to enable investors to profit from rental income or capital appreciation.

Read also – [Funding alert] Data Analytics Startup Ganit raises funding in Pre-Series A round

The startup uses artificial intelligence (AI)-based algorithms and a proprietary database to provide market trends and financial analysis for investors to make data-driven decisions, in addition to simplifying the process.

“In just one year of operation, PropReturns has conducted transactions worth more than Rs 100 crore through the platform. Our execution and vision for PropReturns has helped us onboard leading angel investors, founders and real estate veterans in this strategic round, all of whom align with our business,” said, Jayant Panwar, Co-founder, PropReturns.

The startup has a presence in Mumbai and Delhi-NCR, looking to expand to Pune, Hyderabad and Bengaluru. It also seeks to expand its technology team to provide investors with in-depth analysis and market trends for data-driven investment decision making.

Since its inception, PropReturns Real Estate Technology Pvt Ltd had raised $1.2 million in funding from Y combinator, Soma Capital and Goodwater capital and a range of strategic angel investors.

About PropReturns

PropReturns is a platform through which users can transparently invest in Indian Real Estate using data and analysis. They eliminate the time and effort by sourcing the properties, verifying the information through our proprietary database and providing detailed financial analysis- so investors can make a sound investment decision backed by data.

Read also – [Funding alert] ConsCent raises $1.75 mn in funding from Inflection Point Ventures

Their founders and board of advisors started PropReturns after coming across this problem during their prolonged career of sourcing investment properties and facilitating high-value transactions for over 45 years.

Thus PropReturns was founded, with a mission to make real estate investing simple, accessible and transparent by leveraging the best of technology. PropReturns enables buyers to make sound investment decisions backed by data and comprehensive financial analysis. At the same time, they put immense focus on relationships with their clients, by providing them all the supplementary services to create an end-to-end and hassle free property investment experience.

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