Saif Partners along with Accel Partners have invested R25Cr in PropTiger, an online property marketing start-up targeting first-time homebuyers.
Post funding, Ravi Adusumalli of SAIF and Prashanth Prakash of Accel have joined PropTiger’s Board.
The funds raised will be used to further strengthen PropTiger’s position in India’s top 8 cities where it operates and increasing head count to 500 real estate experts by mid-2013.
PropTiger Realty Private Limited was founded in Feb 2011 by Dhruv Agarwala, Kartik Varma and Prashan Agarwal.
Dhruv And Karthik earlier founded iTrust Financial Advisors Pvt Ltd, which was acquired by Karvy Private Wealth in 2011. iTrust offers services like financial planning and filing of income tax returns and also runs personal finance portal - iTrust.in.
Leading global growth private equity firm TA Associates and India Value Fund Advisors’ special purpose vehicle, Argan (Mauritius) are pumping around $500 Mn in high-speed broadband services provider Atria Convergence Technologies for a 95% stake in the company.