How did NoBroker become a Unicorn?

It amazes me how the Indian startup scenario has shifted in the past two decades. One of the few startups which intrigued me was NoBroker. I always knew that the real estate industry worked around brokerage and cuts, so how was this company planning to make a difference? It was hard to wrap my mind around this concept 7 years ago. I was skeptical when I read that they aim to simplify the buying, selling and renting journey for customers by eliminating brokerage. But over the years, not only is this company doing what they meant but it has spread it’s horizon to be the one stop destination from renting/buying/selling to packing and moving, and basically everything in between.

How did NoBroker start?

I remember there was news back in 2015 about the company office and employees being targeted by property agents who thought that this business was a big threat to them. But I don’t think they even paused there. In fact, Amit, one of the co-founders said that it was a testimony of the fact that they were on the right path. Besides, the whole idea of this business cropped up when one of the co-founders had to pay a hefty amount as brokerage while renting a flat in Mumbai. The three of them; Amit, Akhil and Saurabh, decided to address the struggle that customers go through with the brokers and eliminate each pain point with a dynamic business model. Cut to 2021, the company entered the esteemed ‘Unicorn Club.’

Is NoBroker Profitable?

This has become quite a news, raising $210 mn in Series E funding is a huge deal. I came across many news pieces that mentioned NoBroker as India’s first proptech unicorn. This just doesn’t make them a company with over $1 billion valuation but again, in a crowded space like Real Estate asserts how robust and disruptive this business is. With focus to add value to customer's life, profitability will follow soon.

The Path Ahead

From what I read the company is now planning to expand to 15 cities and go further deep into the existing markets in the next couple of years. They are also focusing on growing their community app NoBroker Hood from the present number of 10000 societies to 1 lakh societies in the next 2 years. They also mentioned that the funds will be used to further tech infra, investment in home and financial services and they will integrate AI/ML to make the process of finding and listing a rental hassle-free. As of now, I think they cater to at least 1.6 crore customers across 11 cities which is a huge number. Services like Packers and Movers, Home Loans, Home Cleaning, Home Interiors, Home Painting, etc. apart from buying, selling and renting will only contribute to growing the customer base. I am sure there are many feats that NoBroker plans to achieve. It is stories like these which motivate all the small and big businesses to push and make it big.

One of my friends, Arun, suggested the name NoBroker when I moved to Bangalore. Since then, I've been consistently using their services. I was able to obtain my rental home through them. Some of the basic  NoBroker company details are as follows;

• Founders:

Amit Kumar Agarwal, Saurabh Garg, Akhil Gupta

• Customer service:

   

092417 00000

• Areas served: 

Bangalore, Mumbai, Pune, Hyderabad, Chennai, Delhi-NCR, Gurgaon, Faridabad, Ghaziabad, Faridabad, Greater Noida.

Visit the home page of NoBroker to check out properties to buy/ sell /rent

NoBroker founded in 2014, is a real estate search portal, which connects flat owners and tenants directly. Being a happy client, I am so thankful to this company for providing top-notch quality services. I am immensely happy about the success of NoBroker becoming a Unicorn. They have shown creativity and unwavering will on their journey to become unicorn.

The revolutionary business strategy of NoBroker, which does away with middlemen in real estate transactions, is one of the main factors contributing to its unicorn status. I can attest to the pain of paying high brokerage fees and dealing with unethical behaviour because I had firsthand experience dealing with brokers during my own flat hunt.

Real estate transactions, which include the subscription plans that clients purchase from them, are the cornerstone of the basic revenue model of NoBroker. This doesn't even cover a small portion of what a broker charges. In addition, it covers home, financial, and property management services.

Recently, Google's India Digitization Fund contributed $5 million to the brokerage-free real estate platform NoBroker.com. This amount will be used by them to create new features.

NoBroker 's ability to solve a real problem in the real estate market, its unwavering commitment to customer satisfaction, and its focus on leveraging technology for efficiency and transparency have been the driving forces behind its remarkable success.

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Hi Buddy,

I read in a news daily that when the NoBroker founders, Akhil Gupta, Amit Kumar Agarwal, and Saurabh Garg, decided to develop a tech-based brokerage-free real estate marketplace in 2013, obtaining a billion-dollar valuation seemed impossible.

Visit the home page of NoBroker for buying and selling property. Assist yourself with legal advice and property document verification from NoBroker legal assistance service Generate an online rental agreement through NoBroker.  Sit back and get your sale agreement done by NoBroker

That's why, in November 2021, when the business raised $ 210 million in Series E funding to become the first proptech unicorn, it wasn't a time to celebrate a milestone, but a time to reflect on how far the IIT graduates had gone.

An Indian startup that is transforming the way millions of people in the country rent or buy apartments has become the newest South Asian unicorn. 

NoBroker business model

NoBroker is a digital peer-to-peer marketplace that connects homeowners/sellers and potential tenants/buyers directly without the use of a broker. Customers wishing to buy, sell, or rent a home might use a subscription-based business model.

NoBroker revenue models:

• Tenant's freemium model

• blueprint for liberty

• Plan to unwind

• Money-back guarantee

Apart from that, NoBroker provides a wide range of home services, including packers and movers, house cleaning, house painting, interior design, and much more. These are also significant revenue sources for NoBroker.

NoBroker was founded in 2013 by Indian Institute of Technology alumni Amit, Akhil Gupta, and Saurabh Garg as a property listing platform for rentals. It has since expanded to include various other services, as well as a community management app called NoBrokerHood.

NoBroker, an online real estate brokerage, has raised $210 million in a new round of fundraising headed by previous investors General Atlantic and Tiger Global Management, as well as new investor Moore Strategic Ventures. The deal gives the company a $1 billion valuation, making it India's first prop-tech unicorn. So far, NoBroker has raised $361 million. I am providing the company highlights below,

Company Name	NoBroker
Headquarters	Bangalore
Founders	Saurabh Garg, Akhil Gupta, Amit Kumar Agarwal
Founded	2013
Sector	Real Estate
Pitch	NoBroker is a disruptive brokerage-free real estate service that eliminates the intermediary in rent/buy/sell transactions.
Employees	1000+
Total Funding	$424.5 million (November 2021)
Registered Name	NoBroker Technologies Solutions Private Limited

I conclude my answer about NoBroker and NoBroker founders. I hope this helps:)

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