Housing.com may raise $30 million from Tybourne Capital, Yuri Milner
Advitiya Sharma, co-founder of Housing.com, had said that the company was on track to map 1 crore houses in the next two years
Sep 19, 2014
Source : The Economic Times
Housing Projects

 

BANGALORE: Property portal Housing.com is in talks to raise as much as $30 million (about Rs 180 crore) from existing and new investors including Russian venture capitalist Yuri Milner in his personal capacity and Tybourne Capital, two people with direct knowledge of the development told ET.

Milner, who founded investment firm DST Global, has backed companies like Facebook, Twitter and, most recently, Flipkart in India. He is aggressively looking to expand his fund's portfolio in India, according to industry sources. Yuri Milner and Tybourne Capital declined comment. The new round of funding will be used for acquisitions, hiring talent, building technology and in creasing branding and marketing activities at Housing.com, which has so far raised .

Rs 138 crore in four rounds of funding from investors such as Helion Venture Partners, Nexus Venture Partners and Qualcomm Ventures.

A spokesman for the company declined comment.

However, in an earlier interview with ET, Advitiya Sharma, co-founder of Housing.com, had said that the company was on track to map 1 crore houses in the next two years. The portal has just launched its home loan section, which lets you compare multiple options among various banks and customise the rates. Sharma, who is 24, and his friends set up the company when they could not find a suitable house in Mumbai after graduating from IIT Bombay.

The housing classifieds market is getting increasingly competitive, with companies like 99Acres and Magicbricks, which is owned by the publishers of this newspaper, competing with start-ups like Housing.com and Commonfloor, which are backed by venture capital funding.

"As the competitive environment in the real estate portal space heats up, a lot of VC money is going to come into portals that are competing with 99Acres," Sanjeev Bikhchandani, founder and executive VC of Info Edge.

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