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NoBroker is India’s pioneering proptech platform transforming real estate transactions by enabling users to buy, sell, and rent properties without paying brokerage fees. Founded in 2014 by Amit Kumar Agarwal, alongside co-founders Akhil Gupta and Saurabh Gupta, NoBroker leverages advanced machine learning algorithms and stringent verification processes to connect users with verified property listings, ensuring transparency and reducing fraud. The platform’s commission-free interface democratizes the real estate market, delivering significant cost savings and empowering direct communication between stakeholders. Over the years, NoBroker has built an expansive ecosystem covering home loans, packers and movers, interior design, and tenancy agreements, providing end-to-end solutions for every step of the property lifecycle. Serving over 150 cities across India, its mobile and web applications equip millions of users with AI-driven insights, personalized filters, and real-time notifications. Backed by marquee investors such as Tiger Global, General Atlantic, and Matrix Partners, NoBroker continues to scale through technology-driven innovation. To date, the platform has facilitated property transactions totaling billions of dollars in value, underscoring its transformative impact on India’s real estate ecosystem.
| Founding Year | 2013 |
| Headquarters | Bengaluru, Karnataka, India |
| Valuation | $367.7 million |
| Total Funding | $5 million |
| Users | Not specified |
| Employees | Not disclosed |
| Revenue FY23 | Not disclosed |
| Net Profit (PAT) FY23 | Not disclosed |
| EBITDA Margin FY23 | Not disclosed |
| ROCE FY23 | Not disclosed |
| Date | Round | Amount | Valuation | Investors |
|---|---|---|---|---|
| Mar 2015 | Seed | $3M | – | SAIF Partners, Fulcrum Ventures |
| Jun 2016 | Series A | $10M | – | BEENEXT, SAIF Partners |
| Mar 2017 | Series B | $7M | – | BEENEXT, Digital Garage, SAIF |
| Apr 2018 | Series C | $12M | – | BEENEXT, SAIF, Korean investors |
| Nov 2019 | Series D | $50M | – | Tiger Global, General Atlantic |
| Dec 2021 | Series E | $210M | $1B+ | General Atlantic, Tiger Global, Moore Strategic |
| Apr 2022 | Debt | $5M | – | Trifecta Capital |
NoBroker has demonstrated strong revenue growth over the past three fiscal years, expanding from ₹85 Cr in FY21 to ₹330 Cr in FY23. This four-fold increase highlights the company's expanding market presence and adoption of its zero-brokerage real estate services. However, rising losses from ₹63 Cr to ₹100 Cr over the same period reflect the company's aggressive expansion and marketing spends. While revenues are surging, a continued focus on improving margins and operational efficiency will be key for profitability as it scales further.
NoBroker’s financials reflect a high operational burn rate, with expenses exceeding revenues in all observed years. EBITDA margins remained negative from FY21 to FY23, though slight improvement was noted in FY23 at -30%. Expense per ₹ revenue also remained elevated above 130%, underscoring aggressive investment in user acquisition, technology, and expansion. These metrics indicate a growth-at-all-costs phase that, while boosting top-line figures, pressures profitability. Improvement in unit eco...
NoBroker has seen significant team expansion, growing from approximately 800 employees in FY21 to over 3,000 by FY23. This rapid scaling reflects the company’s aggressive expansion in new geographies and services like NoBrokerHood, rental management, and home services. The expanding workforce also suggests higher investment in customer support and on-ground operations to improve user satisfaction. Continued employee growth aligns with its increasing revenue and funding, but sustaining cultur...
In 2024, NoBroker continued expanding its home services and society management app, NoBrokerHood. It also launched new AI-powered property recommendation features to improve user experience. Additionally, the company hinted at IPO readiness by 2025, provided financials stabilize. Ongoing Series F fund utilization is focused on branding and talent acquisition.
| Metric | Details |
|---|---|
| Employees | 3,000+ – Rapid expansion across India |
| Revenue FY23 | ₹330 Cr – Grew 4x in 3 years |
| Net Profit (PAT) | -₹100 Cr – Reflects scale investment phase |
| EBITDA Margin | -30% – Improving but still negative |
| Strategic Investments | NoBrokerHood, Home Services – Core growth levers |
| IPO Status | Expected by 2025 – Preparing for listing |
| Expansion Focus | Domestic + International (Middle East) |
| Latest News | AI tools, society mgmt expansion |
NoBroker has carved a unique space in the Indian proptech ecosystem with its zero-brokerage model and deep tech integrations across services. Backed by marquee investors and achieving unicorn status in 2021, the company is on a fast growth trajectory. While losses remain a concern, their investments in technology, people, and services indicate a long-term strategic play. NoBroker’s IPO ambitions, combined with a strong operational foundation, make it a key player to watch in the sector.
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