SAIF, Accel Partners Invests R25Cr In PropTiger
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.
Prashan is an alumnus of IIT Kanpur and ISB, Hyderabad who prior to PropTiger had successfully built internet and technology businesses.
PropTiger Realty Private Limited offers real estate developers across India the ability to quickly sell their new residential apartments inventory during the initial launch, thus allowing developers to focus on the execution of their project.
PropTiger has sold a total of 2.2 million square feet of residential real estate across India and achieved a gross value of property sold amounting to R1100Cr since inception.
It markets residential properties to first-time homebuyers offering services right from identifying properties to facilitating the cheapest home loans.
The company's target is to reach Rs 10,000 crores of gross value of property sold by 2016.
Recently, Accel Partners along with Blume Ventures and Mumbai Angels invested $1.2 Mn in Hotelogix -cloud-based hospitality solutions provider.Accel partners also invested $6Mn in Zansaar - E-retailer of home decor products along with Tiger Global.
SAif Partners along with IDG Ventures invested $14 Mn in Brainbees Solutions Pvt Ltd which owns FirstCry.com and Goodlife brand.
Last year, Mumbai-based RCSPL, which owns real estate group buying portal Groffr.com raised its first round of funding from Indian Angel Network.
Bessemer Venture Partners, Mayfield Fund and Canaan Partners invested R100Cr in Consim Info Pvt Ltd which runs an online job portal (Clickjobs.com) and a property website (Indiaproperty.com) apart from bharatmatrimony.com.
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|2012-04-20||PropTiger - Saif Partners , Accel Partners||Venture Capital||
|2011-02-02||iTrust Financial Advisors - Karvy Private Wealth||M&A||
Karvy Private Wealth Management
|05/11/2013||Venture Capital||WWB India||Ananya Finance For Inclusive Growth Private Limited||-||Completed|
|08/05/2013||Venture Capital||Accion Technical Advisors India||Thirumeni Finance Private Limited||-||Completed|
|12/02/2013||Venture Capital||Michael and Susan Dell Foundation||Intellegrow Finance Company||1.86||Completed|
|07/11/2012||Venture Capital||WFA Global Investments||Artha Yantra Corporation Private Limited||0.47||Completed|
|SAIF Partners|| BFSI
|http://www.sbaif.com/||Ravi AdusumalliVibhor MehraMukul SinghalPiyush GoyalNitesh Bhadani|
|Accel Partners|| IT/ITES/Technology
|www.accel.com||Anand DanielPrateek DhawanPradip Kumar MajumdarPradip Kumar MajumdarGagan KumarSubrata MitraAnand DanielNeeraj BharadwajPrateek DhawanRajaram GaunkerPrayank SwaroopVinod KumarBarath Shankar Subramanian|
|PropTiger Realty Private Limited (Formerly iTrust Financial Advisors Private Limited)||Karvy Private Wealth Management||345 1st Floor, Udyog Vihar, Phase-II||www.itrust.in|
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