Locon Solutions Pvt. Ltd. (known as Housing.com), an Indian house hunting platform, received a $90m investment.
The round was led by SoftBank Internet and Media, Inc., with participation from Falcon Edge and other investors.
The company intends to use the funds to map over 40 million houses across 300 cities in India and provide On-Off buttons to home owners and agents. These On-Off buttons will convert all the curated houses database into assets for Housing.com, and can be reactivated when they’re again available in the market.
Founded in 2012 by Advitiya Sharma, Housing.com provides consumers with a property search platform featuring over 350,000 verified listings and more than 15,000 New Projects. It offers HD photos and 100+ data points on each property on the platform.
The company has more than 1,500 employees in over 45 cities across India.
With the funding, the SoftBank Group will become the largest investor in Housing.com, which has now raised more than $121m in 2 years. Through the partnership, it aims to further invest in the digital infrastructure of India and build synergies with its network of Internet companies in India and around the world.
FinSMEs
16/12/2014