HouseEazy, a Noida-based startup focused on the resale housing market, has raised $7 million in a Series A round funds round led by Chirata VenturesAlteria Capital and existing investor Antler also participated.
Financing, a combination of equity and debtaims to accelerate expansion in the National Capital Region (NCR), enhance its brand presence, grow its team and refine its product offering.
What does HouseEazy do?
Founded in 2021 by Tarun Sainani and Deepak Bhatia, HouseEazy has positioned itself as a transformative force in the residential resale market.
The startup aims to simplify and speed up the home resale process, which has traditionally been plagued by challenges such as price uncertainties and delays in delivery times.
HouseEazy’s platform delivers real-time price quotes using a proprietary machine learning algorithm, providing sellers with a seamless and fast selling experience.
Buyers, on the other hand, benefit from access to exclusive, renovated homes, equipped with advanced AR/VR tools for a virtual viewing experience.
The growth of HouseEazy
HouseEazy has reported Rs 425 crore annual recurring revenue (ARR) (GMV) and remains profitable.
With the fresh funding, the startup hopes to significantly increase its ARR, targeting Rs 1,800 crore NCR market share in the next 15 to 18 months.
“We have already achieved a GMV (gross merchandise value) ARR (book rate of return) of Rs 425 crore, and we expect to achieve Rs 1,800 crore GMV ARR in the next 15-18 months in the NCR market alone. The potential of this business is to become larger than many developers across India as the secondary market is double the size of the primary market, with very little competition and a deep customer need gap that is consistent across geographies,” said Deepak Bhatia, Co-founder, HouseEazy.
The real estate technology startup, currently present in Noida and Ghaziabad with a recent entry in Gurgaon, plans to further expand to cities like Pune, Mumbai and Bengaluru.
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