Indian PropTech startup NoBroker has raised $50m in its Series D investment round to scale its business.
The Bangalore-based real estate property operator announced the round on Wednesday October 2, just months after it raised $51m in June. It had previously raised $7m in December 2016. The new investment means NoBroker has attracted $121m-worth of investments to date and that it now has a valuation of between $300m and $350m.
Tiger Global, the venture capital firm, led the round. The investor also participated in payment company Rapyd’s $100m Series C round this week.
Other investors participating in NoBroker’s latest round include AIF Partners, Rocketship.vc and Beenext, the VC firm that backed cross-border payments startup Wallex’s pre-Series A round in October 2018.
NoBroker is going to use the money to expand to 20 cities in the next two years. It is already operating in Mumbai, Bangalore, Pune, Gurgaon, Hyderbad and Chennai.
The PropTech firm will also use the cash to launch and apartment management product to cover both security and to better inform people about their neighbourhoods.
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