After a couple of months of getting Anand Chandrasekaran on board as investor and advisor, NoBroker has now roped in another biggie. This time, its perhaps India’s most visionary startup founder, Vijay Shekhar Sharma as an investor and advisor.
While the amount invested by Vijay Sharma in the startup is not disclosed yet, it is known that he will be also be working as an advisor to the company.
The joining of Vijay Sharma comes at a crucial time when the startup is looking to expand its presence across the country. It is currently operating in Bengaluru, Mumbai, Chennai and Pune.
The amount invested by Anand Chandrasekaran in the startup was also not disclosed. But, it was assumed that the investment was between $10,000 and $25,000 as he usually makes investments between those amounts. Before joining Facebook, Anand was with Airtel and Snapdeal. He has made around 10-12 investments in the current calendar year.
NoBroker was founded in 2013 by three IIT and IIM alum – Akhil Gupta, Amit Agarwal and Saurabh Garg. The company offers subscription fee-based services to potential tenants and home owners, bypassing the ubiquitous real estate broker.
It has developed an algorithm that can scour the internet to verify that each new sign-up is a prospective tenant and not a broker, claims the company. In addition to facilitating connections between two parties, the startup also provides the necessary legal documents which are customized for every deal.
It also offers ancillary services such as connecting customers with moving and packing agents, undertaking rent negotiations and assisting with the drawing up of rental agreements.
Till now, the company has raised more than $13 million in equity financing. It investors include SAIF Partners, Singapore-based, Teruhide Sato’s venture capital firm Beenext, Japanese investor Digital Garage and Beenos, among others.
The company claims that it has served around 15 lakh customers till date and is adding more than 1 lakh new registered customers every month.