Homesfy Realty has raised $1.1 million from early-stage growth investors Girish Gulati, Dnyanesh Bhatavadekar, Neha Idnany, Yogesh Bagaria, and Amit Bagaria.
The company is planning to list on the Indian bourses and has filed its draft red herring prospectus (DRHP) for SME IPO with NSE Emerge. The proceeds from the proposed offering will be used by the company for its working capital requirements, general corporate purpose, and organic growth.
“Real estate is poised to be a $1.5 trillion industry in the near future. As real estate developers consolidate market share via launches and construction velocity, they need the right partners to drive sales. Through the use of proprietary technology tools, rigorous processes, and talented sales agents, Homesfy simplifies the home-buying experience and is positioned to lead the channel partner sales for all major developers across India,” said Girish Gulati, who is a veteran investor in the public equity markets.
“Buying a home for personal use or as an investment continues to be a popular choice in the country. Due to the pandemic, even the reluctant youth has realized the advantages of investing in hard assets. This, coupled with the regulatory framework coming into the real estate sector through RERA, has paved the way for a growing interest in real estate transactions. With the new strengths coming in and this fund-raise, Homesfy is committed to delivering growth to its employees and investors and satisfactory services to its customers,” said Ashish Kukreja, founder & CEO at Homesfy.in & MyMagnet.io.
Currently, Homesfy is headquartered in Mumbai and has an operational presence in 4 cities in India including Pune, Bengaluru, and Delhi NCR. The company has recently initiated the process of acquiring EQServ, a Mumbai-based real estate broking firm that has been facilitating residential property sales for category A+ developers across the city.
Founded a decade ago, Homesfy quickly became self-sufficient and expanded to facilitate bookings totaling Rs 1,650 cr on its platforms in the last financial year.
