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Follow Us![[L-R] Deepak Bhatia and Tarun Sainani, Co-founders of HouseEazy](https://img-cdn.thepublive.com/fit-in/1280x960/filters:format(webp)/indianstartupnews/media/media_files/PxeLq7UFgFiPSOs8qXv2.jpg)
[L-R] Deepak Bhatia and Tarun Sainani, Co-founders of HouseEazy
HouseEazy, a Noida-based startup focused on the resale home market, has raised $7 million in a Series A funding round led by Chiratae Ventures. Alteria Capital and existing investor Antler also participated.
The funding, a combination of equity and debt, is aimed at accelerating the expansion across the National Capital Region (NCR), enhancing its brand presence, growing its team, and refining its product offerings.
What does HouseEazy do?
Founded in 2021 by Tarun Sainani and Deepak Bhatia, HouseEazy has positioned itself as a transformative force in the residential resale market.
The startup aims to simplify and speed up the home resale process, which has traditionally been fraught with challenges such as pricing uncertainties and timeline delays.
HouseEazy’s platform offers real-time price quotes using a proprietary machine-learning algorithm, giving sellers a transparent and quick selling experience.
Buyers, on the other hand, benefit from access to exclusive, refurbished homes, complete with advanced AR/VR tools for a virtual viewing experience.
HouseEazy's growth
HouseEazy has reported an Annual Recurring Revenue (ARR) of Rs 425 crore (GMV) and maintains profitability.
With the new funding, the startup expects to significantly boost its ARR, targeting Rs 1,800 crore from the NCR market within the next 15-18 months.
“We have already hit a GMV (gross merchandise value) ARR (accounting rate of return) of Rs 425 crore, and expect to hit Rs 1,800 crore GMV ARR in the next 15-18 months from the NCR market alone. The potential of this business is to become bigger than many pan-India developers, as the secondary market is twice that of primary, with very little competition and a deep customer need gap that is consistent across geographies,” Deepak Bhatia, Co-founder, HouseEazy, said.
The proptech startup, currently present in Noida and Ghaziabad with a recent entry into Gurgaon, plans to further expand into cities like Pune, Mumbai, and Bengaluru.