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NoBroker Success Story

by YourTech Story YourTechStory is all about stories of products, te
NoBroker was co-founded in 2013 by Saurabh Garg, Amit Kumar Agarwal, and Akhil Gupta with the goal of revolutionising the Indian real estate industry. The three IIT grads set out to develop a platform that linked real estate seekers and owners directly without the need for a brokerage. Despite the seemingly unattainable goal of building a billion-dollar business, their perseverance served as the cornerstone for the establishment of India’s first prop-tech unicorn.

Reaching the Status of a Unicorn
NoBroker became a unicorn when it raised $210 million in Series E fundraising in November 2021. This achievement was more than just a target; it was a confirmation of the founders’ vision and diligence. As he looked back on their journey, co-founder and CTO Akhil Gupta emphasised their focus on finding solutions for the real pain points that clients were facing as a result of the high intermediation fees that brokers imposed.

Resolving an Actual Issue
NoBroker’s concept came from a personal experience. The frustration of having to pay outrageous brokerage fees in Mumbai, even only to renew a rental agreement, was described by Saurabh Garg. The co-founders were motivated to develop a solution that did away with the need for brokers after realising how common this problem was. NoBroker was created as a result, enabling direct communication between seekers and property owners.

Read more: https://www.yourtechstory.com/2024/05/27/nobroker-success-story/

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Created on May 27th 2024 08:07. Viewed 62 times.

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