The Platform that specializes in resale homes known as HouseEazy was able to secure $7 million in Series A round fundraising to support its growth. The round was equity and debt with Chiratae Ventures being the leading investor with Alteria Capital and existing investors Antler being the others. This funding comes exactly seven months after its seed round that it closed in December 2023.
The fresh funds will help the company to new geography of coverage within NCR, boost brand image, improve team and widen product portfolio of HouseEazy. The first-hand property market already has anchors in terms of developers, but no single entity in the resale market was serving both sides of the buying-selling spectrum, co-founder Tarun Sainani said. Thanks to this process, HouseEazy has enabled customers to directly purchase or sell resale homes within the shortest time, usually within 15 days here on the platform, and with much enhanced security.
The launched HouseEazy platform has already provided services to more than one thousand clients, providing sellers with instant price quotations with the help of a special machine learning algorithm based on over 1. 5 million data points. This enables sellers to close deals within the shortest time possible at the most favorable prices thus reducing on numerous meetings and price haggling. The latter is bolstered by the availability of selective, remanufactured merchandise for buyers, as well as the use of state of art tools such as AR/VR for 3D walk through and virtual staging. Further to that, HouseEazy also provides packages of services like mortgage, legal, and registry services hence becoming a one-stop center for resale home buyers.
Co-founder Deepak Bhatia stated that HouseEazy was now commanding a gross merchandise value (GMV) annualised run rate of Rs 425 crore and that NCR market alone should see GMV ARR of Rs 1,800 crore in the next 15-18 months. Currently the company operates out of Noida and Ghaziabad and has recently entered Gurgaon and is eager to expand in to other Tier 1 cities like Pune, Mumbai, and Bengaluru.