Bangalore: The map based online Indian real estate listing portal, Housing.com that simplifies renting, finding and selling homes, is likely to raise a fresh fund to the tune of $500 million from its existing Japanese investor Softbank. The sources in the firm confirmed that the deal is likely to be closed by the end of this week. The latest pool of funding will be employed to expand its business, and step up its activities all over the map. Housing.com will accelerate its business and map over 40 million houses across 300 cities in India.
Housing.com has already raised about $139.5 million in four rounds of private equity, venture, and seed funding from four investors namely Qualcomm Ventures, Helion Venture Partners, Nexus Venture Partners and Japan based Softbank. Softbank had earlier led around $90 million investment along with other leading venture capital firms inclusing Falcon Edge. $100 million private equity raise is the most recent funding of this Indian real estate portal.
The company was founded in June 2012, by a group of 12 IITians. Currently, Housing.com has established its presence in all the major cities namely Mumbai, Hyderabad, Bangalore, Chennai, Kolkata, Noida and others with more than 15000 new projects and 3,50,000 verified listings to their credits. Housing.com has also stepped in various Tier II cities as well to serve the customers effortlessly. Recently, Housing.com has launched an interactive home booking platform, Slice View which helped the firm to generate more than Rs.50 crores in GMV and half of the inventory.