Proptech startup and home sales guarantee startup Zapkey has raised $2 million in a funding round led by Nikhil Kamath and Abhijeet Pai-backed Gruhas Proptech.
DLF Family Office, Blume Founders Fund, Alkem Labs Family, Aprameya Radhakrishna (co-founder, Koo), Srini Sriniwasan (MD, Kotak Investment Advisors), also participated in the funding round, the company said in a statement.
“We have seen this model play out in the cars space with Cars24, Spinny and others. Globally, giant funded start-ups like Opendoor and Loft have demonstrated this in resale homes. The problem and the solution are clear, present, and inevitable,” said Shubhankar Dongre, co-founder of Zapkey.
Founded in 2020, by Shubhankar Dongre, Sandeep Reddy and Raja Seetharaman, Zapkey is a platform that aggregates and standardize publicly available property registration data primarliy for residential properties. They believe this would empower Buyers, Sellers, Brokers, Developers and Financial Institutions to make faster, more informed, and secure decisions.
“The resale home space is over a $50 billion market. The sheer scale that this market presents is an incredible opportunity. We believe Zapkey has the perfect team and motivation to take advantage of this opportunity and we have full conviction in backing them,” said Abhijeet Pai, partner at Gruhas Proptech.
Zapkey’s mission is to create Trust and Transparency in the property market. They do that using their authentic and reliable data and selected properties, which help make decisions with confidence and peace of mind.
“Over 300,000 resale homes exchange hands in the top 7 cities annually. Technology is enabling fantastic experiences in every trade around us. I’m excited to be partnering with Zapkey on this opportunity,” said Rahul Talwar of the DLF Family Office.
The startup’s vision is to become the one-stop online solution that aims to bring liquidity to the difficult resale home market by providing trust, transparency in pricing, and the best home selling experience to its customers.