Settlin raises $1 million in pre-series A led by Powerhouse Ventures
Settlin, a resale home digital broker, has raised $1 million in a pre-series A round led by Powerhouse Ventures, Rajesh Sawhney’s GSF Fund, and marquee angel investors Murugavel Janakiraman (Founder & CEO, Bharat Matrimony), Dinesh Agrawal (Founder & CEO, IndiaMART), and others.
It intends to be using the new funds to expand within Bengaluru and strengthen its consumer-tech forum. It plans to conduct 24,000 visits all over Bengaluru over the next 12 months, resulting in over 800 property sales worth Rs 600 crore.
“The residential resale market is 3 times that of new sale, and holds the key to truly organize the entire Real Estate transactions industry, forever. This ever growing sector remains unorganised and complex to crack because of its multiple moving parts. As a result, Proptechs and organized brokers mainly focus on the low hanging fruits i.e. being a property classified or doing developer sales (channel sales). Bringing even an iota of change in an industry this big needed in-depth understanding, careful planning and elaborate execution. Thanks to our team and investors, Settlin is now bridging the gap between lakhs of homebuyers and individual re-sellers through its hyper-local gigified approach which is both standard and personal at the same time. We are re-defining property transactions in all the ways that millions of consumers have dreamt of, many companies before us have promised, but no one could execute,”Ashish Srivastava, Co founder & CEO, Settlin.
Settlin handles residential property re – sale transaction records from start to finish. The country maintains thorough and precise property profile information, physically verified properties, and oversees the purchase transaction, along with legal authentication process, home loan, and sale deed. Settlin, the company’s app, was recently released on the Google Play Store.