Digital Real Estate Broker Settlin Raises $1M in Pre-Series A Funding

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Settlin founders Ashish Srivastava and Sudhanshu B

Settlin founders Ashish Srivastava and Sudhanshu B

Digital brokerage for homes Settlin has announced that it has raised $1 million in a pre-Series A funding round from Powerhouse Ventures. The investment round also saw the participation of renowned angel investors Murugavel Janakiraman, Founder and CEO, Bharat Matrimony, Dinesh Agrawal, Founder and CEO, IndiaMART, and others. The company plans to use the new funds to expand in Bengaluru and strengthen its consumer technology platform. It aims to make 24,000 visits across Bengaluru in the next 12 months which will result in over 800 property sales worth INR 600 crore.

The company was founded by Ashish Srivastava and Sudhanshu B in 2016 and is based in Bangalore. It has recorded a quadruple growth of its activity during the last two quarters. The company combines technology and real estate on its platform, which was recently launched on Google Play Store. The combination of real estate and technology opens up players like Settlin to a big market. The residential resale market is three times larger than the new-build market and holds the key to truly organizing the entire real estate transaction industry, forever, according to Srivastava. “Bringing even an iota of change to such an important industry required deep understanding, careful planning and elaborate execution. Thanks to our team and investors, Settlin is now bridging the gap between thousands of buyers home and individual resellers through its local hyper-gigified approach that is both standard and personal,” he adds.

Commenting on their investment, Kshitij Golwalkar, General Partner of Powerhouse Ventures, said, “Settlin’s digitization of the entire home resale process, from holding to transaction, is rapidly changing the buying and selling experience. sale of homes, providing end-to-end transparency and efficiency.

Settlin’s strategy is to expand to 11 metropolitan cities, starting with Mumbai, over the next 5 years, covering 20% ​​market share in Bangalore and 5% across India.

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