NoBroker gets $50 million from Tiger Global and others

BENGALURU: Online real estate platform NoBroker has raised an additional $50 million led by Tiger Global Management, three months after General Atlantic led a $51 million investment round in the company.

NoBroker raised $121 million, including the latest round, valuing the startup at $300-$350 million. The platform can be used to buy and rent properties, and for services like loans, and packers and movers.

“This investment will help us reach more customers and accelerate our deal closure growth,” said Amit Kumar, CEO, NoBroker.

“We are using machine learning and AI to make transactions faster and lowcost, and also bringing technology to financial transactions involved in real estate,” said Akhil Gupta, CTO, NoBroker.

The platform has over 30 lakh registered properties and over 70 lakh transacting users till date. In the adjacent real estate space, Tiger Global is also leading a $55-$60 million round in MyGate, a security app for gated premises, sources said.