Housing.com, Mumbai-based real estate search portal, has secured Rs 100 crore from Japan’s Softbank, which is also the existing and major investor in the portal. The raised capital will be used towards strategy and growth plans. The year 2015 was full of controversies, and the major news for startup was the removal of Rahul Yadav from CEO of Housing.com.
Founded in 2012 by Amrit Raj, Ravish Naresh, Vaibhav Tolia, Advitiya Sharma and Rahul Yadav, Housing.com is an online platform that allow customers to find, rent, and sell homes in the country. Users can search for the property based on various filters like price, location, size etc.
Speaking on the investment, Jason Kothari, CEO of Housing said, “Softbank is one of the world’s largest and most successful investors. Their continued support as both investors and advisers to Housing.com is invaluable to us and signifies their long-term commitment to the company.”
Now both Softbank and Housing.com will work aggressively execute on their focused strategy and growth plans. They aiming to focus specifically on buying and renting homes. The company claims that it had received 85 million visits in 2015, and also reached the milestone to have 1 million verified listing on the portal.
In October 2015, Softbank invested $90 million in Housing.com, with participation from New York-based hedge fund, Falcon Edge Capital.