Propshare is the investment real estate platform, which has raised $47 million (around Rs 367 crore) in a Series B funding round led by WestBridge Capital.
The company’s valuation stands at $170 million (around Rs 1,300 crore) after the latest fundraising, media reported.
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Existing investors’ participation is rejected. As per the statement, Lightspeed and Beenext said that Pravega Ventures is also an existing investor but participated in the round.
Propshare Online Platform Pvt Ltd operates Propshare to use their capital on scale platform across the geographics and real estate assets to expand the distribution of channels and invest in technology with hiring professionals.
“Propshare aims to become the largest real estate investment platform globally. We look forward to partnering with WestBridge Capital, which has a history of building and partnering with high-quality Indian businesses across public and private markets,” said Kunal Moktan, co-founder & chief executive officer at Propshare.
Moktan and Hashim Khan founded the company in 2016, allowing ordinary users to access the institutional assets with 8-10 per cent in place of rental yields and 17-20 per cent returns.