NoBroker raises $50 Million in a Series C funding round led by General Atlantic

Key Highlights

NoBroker has raised a $50.67 in its Series C funding round led by General Atlantic.

NoBroker has till now raised $70 Million.

NoBroker has attracted new investor in its Series C funding round.

Startup funding is gaining momentum bypassing of each month. Every month several startups are raising huge funds in the same chain Bengaluru based rental and realty space startup NoBroker has raised a $50.67 million (Rs 351.04 crore) in its Series C funding round. The round is led by General Atlantic. General Atlantic has funded $41.42 million (Rs 287 crore) investment via both preference and equity route in NoBroker. NoBroker has also attracted new investor in its board as a funding partner. Its existing investors SAIF Partners and BEENEXT Ventures were also seen participating in the funding round.

According to RoC filings with MC, General Atlantic has purchased 87,137 Series C1 CCPS and 1,000 equity shares worth Rs 32,562.91 each. Thus new investor has a 25.24% stake in the firm as of now. India Fund IV & V. BEENEXT has invested in 3,224 CCPS on amount of $1.52 million (Rs 10.5 crore), SAIF Partners has spent a total of $7.48 million (Rs 51.8 crore) on 15,907 CCPS of the same class and has initiated with a small investment of $0.26 million (Rs 1.75 crore) in exchange of 537 CCPS. Few months before it has also received a non-convertible debt from Trifecta Capital worth Rs 18 crore.

The company has till now raised $70 Million. In December 2016 the company has raised $7 million in a Series B round from KTB Ventures, BEENEXT, SAIF Partners and Digital Garage and now by this funding round its valuation has jumped to more than $116.11 million (Rs 1,137.06 crore). In February 2016 the company has raised a $10 million Series A round from BEENEXT and others. With this funding round the company has raised enough funds for the smooth functioning of the company and it is also planning to enhance its business to several other cities of India.

About General Atlantic

General Atlantic is a venture capital firm which is focused to deliver superior returns by participating in the funding round of entrepreneurs who are creating growth opportunities. It has a team of experts across the globe that assists by offering proven technology and effective business models. General Atlantic assists in leadership, performance, and growth of companies in India and abroad. It currently has $31 Billion assists in the management stage. It has till now invested in 112 companies.

Saif Partners

SAIF Partners is a sector concentric private equity company in Asia. It presents more than $4 billion capital it has offices in India, Hong Kong, and China. It came into action in 2001 by the assistance of Softbank Vision funds. It has invested in various early-stage startups to assist them in gaining momentum and generate more revenue. It has invested in MakeMyTrip, BookMyShow, Paytm, FirstCry and several others. It has raised $350 Million from its Indian entity in 2017 that enhanced it’s valuation above $1 Billion.

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Priya Singh

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