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India’s first unicorn proptech company, NoBroker has set up an office in the Business Bay district of Dubai, UAE. The company hopes to cater to international markets such as UAE, Australia, Singapore and USA and tap into the illustrious NRI market in India. Earlier this year, the company raised $5 million from Google to expand its services business under the name of NoBrokerhood.
In an interview captured by Economic Times, co-founder and CBO of NoBroker, Saurabh Garg, spoke about the NRI market and company’s future plans. According to him the company realised that most individuals prefer dealing with a company representative in-person while discussing deals and so setting up an office in Dubai seemed like the logical next step. The GCC has a vibrant Indian community with many interested in the Indian property market. Therefore a physical presence in the region would only strengthen the company’s position while allowing to tap into other international markets.
NoBroker is a technology-based real estate platform that was founded in India in 2014. The company aims to simplify the process of buying, selling, and renting properties by eliminating the need for intermediaries such as brokers or agents. NoBroker is headquartered in Bengaluru, Karnataka and operates in several major cities across India. NoBroker was founded by Amit Kumar Agarwal, Akhil Gupta, and Saurabh Garg. All three founders have a background in technology and previously worked for companies such as IIT, Yahoo, and IBM.
The platform uses machine learning algorithms and artificial intelligence to match property owners with potential buyers or renters without any brokerage fees or commissions. It offers various services such as property listings, virtual property tours, background verification of tenants, and rent payment services. NoBroker has received funding from several investors including General Atlantic, SAIF Partners, and Tiger Global. The company claims to have over 10 million registered users and has facilitated over 4 million transactions to date.
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