IndiaHomes gets Rs 150 cr funding
New Delhi, April 18,2014 –
Property portal IndiaHomes has received a Rs 150 crore from three private equity player New Enterprise Associates, Helion Ventures and Foundation Capital.
The company said the current round of funding will be used for technology upgradation. Helion Venture had previously also invested in the company.
Samarjit Singh, founder and MD, IndiaHomes, “This investment will fuel growth as we expand our presence from 10 to 50 cities in the next few months. Additionally, we will also make a foray into the secondary market and envisage 60:40 ratio between primary and secondary market in the near future.”
Singh said the company is targeting a sales in gross merchandise value of $5 billion in next five years.
IndiaHomes handles and supports the property buying, selling, leasing, and investing needs of clients for commercial and residential projects.
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