Mumbai: Real estate Investment platform PropReturns raised an undisclosed amount of funding via a strategic round from the leading angel investors. The funding round saw participation from Cred’s Kunal Shah, Gokul Rajaram (Board Member CoinBase and Pinterest), 1947 Rise, Varun Alagh (Co-founder of Mamaearth), Sandeep Agarwal (Co-Founder of ShopClues and Droom), Nitin Jain (Of-Business), Karan Virwani and many more.
The company is one of the largest marketplaces for real estate investment in India. It plans to utilise the funding to scale rapidly by adding more asset classes. The investment platform will also be looking at increasing the investor base and partnering with more channel partners/real estate brokers, developers and property owners. The Company is operational in Mumbai and Delhi NCR and is looking to expand geographically and enter the markets of Pune, Hyderabad and Bengaluru. Apart from this, PropReturns aims to expand its technology team to provide deeper analytics and market trends for investors to make data backed investment decisions.
“In just one year of operation, PropReturns has conducted transactions worth more than 100 Cr 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. Our goal is to build the largest real estate investment ecosystem in India and this funding will be deployed in scaling up the company by growing transaction volume along with team expansion” Jayant Panwar, Co-founder, PropReturns.
“Real Estate is India’s most popular asset class, yet it is plagued by a lack of transparency and data. Majority of the Real Estate investment decisions in India are made on gut instincts. At PropReturns, we solve this by providing investors access to curated supply and market trends of the property, allowing them to make an investment decision backed by data. Being a marketplace, users can invest in different asset classes based on their investment philosophy: commercial, plots, REITs, real estate debt etc.” Kenish Shah, Co-founder, PropReturns
Founded in 2021 by BITS Pilani graduates Kenish Shah, Jayant Panwar and Somil Mathur, PropReturns Real Estate Technology Pvt. Ltd. raised 1.2 million funding from Y combinator, Soma Capital and Goodwater capital and a range of strategic angel investors.
About the Company
PropReturns is a leading real estate investment marketplace. With the mission of making real estate investment simple and transparent, investors can make sound investment decisions by viewing the verified data, financial analysis and market trends of hundreds of real estate investment opportunities on PropReturns. At PropReturns, our goal is to make Real Estate Investment as simple and transparent as investing in stocks. PropReturns offers investors highly reliable and curated investment options that facilitate data-backed decision making. The company was founded by BITS Pilani graduates Kenish Shah, Jayant Panwar, and Somil Mathur in 2020. With a background in real estate and engineering, the trio has established an investment platform that addresses the urgent need for data transparency along with easy access to relevant information.
The platform lists rent generating commercial properties, plots, distressed opportunities, REITS, and Real Estate Debt, offering investors an opportunity to earn passive income through regular rentals or gain from capital appreciation. Within months of inception, the company raised funding of USD 1.2 million from leading investors, including US-based Y Combinator, Goodwater Capital, and Soma Capital. The platform currently has more than 600 investment options.
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