Founded in 2021 by Tarun
Sainani and Deepak Bhatia, HouseEazy is 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, a
full stack marketplace for resale homes, has raised $7 million in Series A
funding. This round was a mix of equity and debt led by Chiratae Ventures and
saw participation from Alteria Capital and existing investor Antler. The funds
will be utilised to fuel the organization’s growth across new geographies in
NCR, strengthening brand presence, team expansion and product enhancement,
HouseEazy said in a press release. HouseEazy, an online marketplace for
pre-owned homes, has raised Rs 33.5 crore (around $4 million) in Series A led
by Chiratae Ventures Fund with participation from Veena Jindal, Antler
Innovation Fund, and IA Growth Opportunities Fund. The Board at HouseEazy has
issued a total of 3,915 shares at a face value of Rs 10 and premium of Rs 85,666
on preferential basis and by way of private placement, the company’s regulatory
filings with Registrar of Companies show. Chiratae Ventures has invested Rs
29.62 crore, whereas Antler Innovation Fund invested Rs 2.86 crore. IA Growth
Opportunities Fund and Veena Jindal invested Rs 76.25 lakh and Rs 29 lakh
respectively. As per startup data intelligence platform, HouseEazy has reached a
valuation of Rs 156 crore post money (over $18 million). The company may raise
more funds in this round and the valuation will vary accordingly. In December
2023, HouseEazy raised $1 million in a seed round led by Antler and picked up
$370,000 in pre seed funding in June 2022.The platform also offers mortgage,
legal and registry facilitation services that makes it a one-stop shop for all
resale customers.
The Noida-based company says
that it uses a proprietary machine-learning algorithm with over 1.25 million
data points to provide real-time price offers, eliminating the need for
multiple meetings & negotiations for sellers. HouseEazy claims that it
reached an ARR of Rs 425 crore (GMV) while maintaining profitability. The firm
expects to hit Rs 1,800 crore ARR in the next 15-18 months from the NCR market
alone. For the fiscal year ending March 2023 (FY23), HouseEazy registered Rs
2.78 crore in operating revenue with Rs 44 lakh in loss.