PropReturns Raises Undisclosed Funding Via Strategic Round The fund raised will be utilized for scaling up by adding more asset classes, expansion of tech team, entering new markets, increasing investor base and so on
By Teena Jose
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PropReturns, a real estate investment platform, raised an undisclosed amount of funding via a strategic round from the angel investors. The funding round witnessed participation from Cred's Kunal Shah, Gokul Rajaram (Board member, CoinBase and Pinterest), 1947 Rise, Varun Alagh (co-founder, Mamaearth), Sandeep Agarwal (co-founder, ShopClues and Droom), Nitin Jain (Of-Business), Karan Virwani and many more. The fund raised will be utilized for scaling up by adding more asset classes, expansion of tech team, entering new markets, increasing investor base and so on.
"In just one year of operation, PropReturns has conducted transactions worth more than INR 100 crore through the platform. Our execution and vision of 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," said Jayant Panwar, co-founder, PropReturns.
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, the company claimed in a statement.
"Real estate is India's 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," said Kenish Shah, co-founder, PropReturns.
Founded in 2021 by Jayant Panwar, Kenish Shah and Somil Mathur, PropReturns is real estate investment marketplace operates with a mission of making real estate investment simple and transparent. The platform helps investors make sound investment decisions by viewing the verified data, financial analysis and market trends of hundreds of real estate investment opportunities on PropReturns.
