December 20, 2023: In a bid to disrupt the massive and unorganised $75 bn secondary realty market in India, HouseEazy is building an end-to-end tech platform for buying and selling pre-owned homes.
HouseEazy, a vertical marketplace for resale homes, has raised $1 Mn in seed funding led by Antler. Other funds in the round include India Accelerator, AC Ventures, Agility Ventures, Finvolve Ventures and Pirojsha Godrej, executive chairperson at Godrej Properties and Sandeep Aggarwal, founder, Droom.
With the mission to bring trust, transparency and convenience to secondary real estate transactions, HouseEazy is building a full-stack, data-driven technology platform to provide the best prices and instant liquidity to sellers and title-checked, refurbished, ready-to-move-in homes to buyers. HouseEazy uses a proprietary machine-learning algorithm with over 1.25 mn data points to provide real-time price offers, eliminating the need for multiple meetings and negotiations for sellers. The platform offers hundreds of pre-verified options, showcased with cutting-edge tools like virtual staging, 3D walkthroughs & drone shoots, enabling buyers to shortlist their dream home from the comfort of their couch. It also provides in-house value-added services such as instant mortgage processing and legal support to its customers, making the buying and selling experience streamlined and simple.
Tarun Sainani, co-Founder, HouseEazy, said, “The way secondary transactions are done in India has not changed for decades. They are still done traditionally, with buyers and sellers facing a lot of risk and long closure times. While these are large ticket-size transactions, the experience has always been abysmal, primarily due to the lack of a strong anchor. HouseEazy solves this need gap by operating as an asset manager and closing the transaction in 15 days instead of three to four months it usually takes in the traditional process – all this with 100% safety. In less than 18 months, we have already closed over 700 buy/sell transactions with the help of our tech stack built specifically for middle-class consumers.”
Deepak Bhatia, co-Founder, HouseEazy, said, “We have already clocked an ARR of Rs 250 cr (GMV) while maintaining healthy profitability and expect to hit Rs 1,000 cr ARR in the next 12-15 months from the NCR market alone. Our asset-light approach and quick turnaround is highly capital-efficient and enables us to scale rapidly with limited funding. We use an innovative GTM and have already onboarded more than 3,000 partners on our portal, who provide real time on-ground data, enable cost effective lead generation and quick entry into new geographies. The funds raised in this round will be used to further build our distribution and strengthen our tech capabilities.”
Rajiv Srivatsa, partner at Antler in India, said, “The buying and selling process for resale residential properties is broken. Unlike the primary market, there are no trusted brands in this space. The $75 Bn secondary real estate market is growing rapidly with strong tailwinds of increasing urbanisation and is ripe for innovation. HouseEazy is addressing a deep consumer need gap in a massive market and has already shown promising early traction. We are excited to partner with the team as they create the go-to destination for pre-owned home transactions in India.”
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