He adds, Other companies are essentially a marketplace of brokers and potential customers (or tenants). “Pallav and his team have shown us that there is a large market in rentals that suffers from India-specific problems such as information scarcity, information asymmetry, trust deficits, and small local networks, all of which can be solved through the power of the internet and a tech-enabled approach.” So how are they different?Īnshul explains that the major differentiator for the platform is that it is not a marketplace, unlike popular platforms like 99Acres, MagicBricks, and QuikrHomes, among others.
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It is an evolution, requiring trial and error, and we will be investing significantly in technology and engineering.”ĭev Khare, Partner at Lightspeed India Partners Advisors, said, “The new round of funding allows us to work a lot on process improvement and fine-tune our backend algorithms to improve the matchmaking process. Speaking to YourStory on the recent investment, Anshul said, In July 2015, BroEx, (which is a part of ) had raised Rs 6 crore as a part of its seed round, also led by Lightspeed India Partners. Co-founders Anshul Gupta and Siddharth Prakash Singh joined the business later. Started by Pallav Pandey and Mukul Bhati in November 2014, is an online-to-offline (O2O) brokerage firm that works in partnership with other brokers to list residential properties online for rental purposes. Founders of (L to R): Pallav Pandey and Mukul Bhati
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