Flyhomes

Photo by Josh Appel on Unsplash

Real estate startup, Flyhomes, has raised $150 million (about 1,096 crore) as part of its series C financing co-led by Norwest Venture Partners and Battery Ventures.

The round also saw participation from Fifth Wall, Camber Creek, Balyasny Asset Management, Zillow co-founder Spencer Rascoff, and existing investors Andreessen Horowitz and Canvas Partners.

The company plans to use the funds to fuel its growth and expand its presence. Flyhomes plans to scale its Indian operations and take its team size from 150 to 450 members in India. The company will be hiring across functions of engineering, product, analytics, brokerage, mortgage operations, and marketing, it said in a statement.

As part of the transaction, Lisa Wu of Norwest Venture Partners and Roger Lee of Battery Ventures will also join Flyhomes’ board of directors.

Flyhomes helps home buyers, and brings every step of the homebuying process, from brokerage to mortgage, under one platform.

“India has been our strategic partner ever since we started and an enabler in more ways than one. The country and its talent have been instrumental in the success of Flyhomes at a global level. As part of the expansion strategy, we are looking to triple the size of our team, and focusing on hiring engineers, product managers, growth hackers and business intelligence analysts with an entrepreneurial spirit,” said Tushar Garg, chief executive officer and co-founder, Flyhomes.

Flyhomes also enables sellers to buy and move into their next home before selling their current one, eliminating the hassle of moving twice, taking on a double mortgage, or living through house showings.

Further, if a Flyhomes buyer has to back out of a transaction, the platform will purchase the home, eliminating uncertainty for the seller.

“We are scaling up in India to leverage the top-quality talent here. Our focus is on building the right leadership and culture in India to deliver high performance output. We have distributed teams across the US and India in almost all verticals today,” said Gaganpreet Luthra, managing director of Flyhomes India.

Flyhomes has bought and sold homes worth more than $2.5 billion on its platform, since inception in 2016.

This article was first published on livemint.com.


Japan travel news, japan travel guides, japan holiday destinations and japan reviews

LATEST NEWS

NEWS RELATED

Government plans to dress up PSBs before sale; Bank of Maharashtra, BOI, IOB in queue

The government plans to dress up state run lenders’ balance sheets through capital support and sale of non-core assets among other measures before putting them on the block. The transformation plan also includes transfer of impaired loans to the proposed bad bank and reducing employee count by offering attractive voluntary…

Read more: Government plans to dress up PSBs before sale; Bank of Maharashtra, BOI, IOB in queue

Social audio is set to have its YouTube moment, Clubhouse founders say

Mumbai: Clubhouse, an invite-only audio chat app launched on Android in India on May 21, has crossed the one million-downloads mark. On Monday, ET Now’s Nayantara Rai spoke with Clubhouse founders Paul Davison and Rohan Seth in their first TV interview together. Edited excerpts: ClubHouse became a global sensation after…

Read more: Social audio is set to have its YouTube moment, Clubhouse founders say

US Supreme Court revives LinkedIn bid to shield personal data

The U.S. Supreme Court on Monday gave Microsoft Corp’s LinkedIn Corp another chance to try to stop rival hiQ Labs Inc from harvesting personal data from the professional networking platform’s public profiles – a practice that LinkedIn contends threatens the privacy of its users. The justices threw out a lower…

Read more: US Supreme Court revives LinkedIn bid to shield personal data

Convosight raises $9 million in funding from Qualgro, others

Mumbai: Convosight, a community monetisation platform, has raised $9 million in a Series A funding round led by Singapore-based venture firm Qualgro. Unilever Ventures, along with existing backers. IvyCap Ventures and Sequoia Capital India’s Surge also participated in the capital raising. The startup is building a monetisation ecosystem for community…

Read more: Convosight raises $9 million in funding from Qualgro, others

Covid-19 vaccine: C-CAMP partners Hitachi ABB for cold chain solutions

Bengaluru: The Centre for Cellular and Molecular Platforms (C-CAMP), in partnership with Hitachi ABB Power Grids, will provide portable cold chain transport devices in select South Indian cities for efficient delivery of Covid-19 vaccines. The device is indigenously developed, according to C-CAMP. The organisation has come up with a portable…

Read more: Covid-19 vaccine: C-CAMP partners Hitachi ABB for cold chain solutions

Global captives expected to ramp up hiring in small towns

Global firms looking to hire for their captive units in India are ramping up headcount in tier II and tier III towns, analysts said. There are about 1,600 global captive centres in India, which collectively employ over 1.3 million people of the 4.6 million technology workforce in the country. Recruitment…

Read more: Global captives expected to ramp up hiring in small towns

Amazon India vendor Cloudtail faces Rs 56 crore tax demand: Report

Bengaluru: Cloudtail India, one of the largest sellers on Amazon India, is facing a tax demand of over Rs 56 crore, The Guardian reported on Monday. Cloudtail is a joint venture of Infosys’ co-founder NR Narayana Murthy’s Catamaran Ventures and Amazon India. The British newspaper was able to ascertain Cloudtail‘s…

Read more: Amazon India vendor Cloudtail faces Rs 56 crore tax demand: Report

Google revamps Workspace to rival Microsoft amid WFH

New Delhi: Google is expanding its Workforce suite of office products to everyone with a Google account, in a bid to increase its market footprint and take on rivals like Microsoft. The search giant has also announced a new individual subscription offer, enhancements to Google Meet, as well as security…

Read more: Google revamps Workspace to rival Microsoft amid WFH

DigiBoxx clocks 1 million users within 6 months of launch

Qualgro leads $9m funding in Convosight and eight more India deal updates

Yes Bank to shift base to former Reliance Infra headquarters in Mumbai

Regulators to look into PNB Housing Fin's plan to raise Rs 4,000 crore from Carlyle, other entities

Now, Covid-19 vaccination appointments can be booked on Paytm app

MP HC admits PIL against Facebook, Twitter over objectionable content

Nikhil Kamath apologises after chess win against Viswanathan Anand

Google dangles paid upgrade to businesses using Gmail addresses

OTHER NEWS