Real estate data platform Propstack has reportedly closed an undisclosed investment from a group of angel investors.
The company received funding from Kotak Investment Advisors managing director Srini Sriniwasan, KKR director Ashish Khandelia, Kotak Mahrindra Bank consumer banking president Shanti Ekambaram, and Rohtayn Group managing director TS Sivashankar, according to reports in the media.
Founded in 2013, the India-based company provides users with a real estate data, analytics, and workflow solution platform. The company’s technology is used by banks, brokers, corporates, developers, funds, HNI’s and Valuers.
Propstack provides clients with a data set of all rent and sale of office space in India, as well as all loans taken out by real estate developers. This information is updated monthly, covering all details like tenure, interest rates, and lenders, among others.
The solution can be used to create insights in to the market and help users better understand the market and find the best investment opportunities.
Propstack reportedly picked up a $3m Series A round in 2015, with DMG Information leading the round.
Earlier this week, Indian state Maharashtra adopted a new comprehensive FinTech policy which aims to support the establishment of 300 start-ups in the sector.
Last year, India’s FinTech sector was dominated by payments and remittance companies, with the businesses receiving $6.1bn of total investments. The real estate technology sector picked up $50m, while data and analytics enterprises nabbed just $12m.
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