New Delhi: E-commerce major Flipkart’s co-founders Sachin Bansal and Binny Bansal are among the investors who have put $3,50,000 in real estate start-up ‘Plabro Networks’.
This is the first round of funding for the company. The Gurgaon-based start-up has recently launched a mobile application “Plabro” to connect property brokers and help them in closing the deals quickly.
The company has got around 20 per cent of the brokers from Gurgaon and 10 per cent from Noida on its platform. It has plans to go pan-India. Flipkart co-founders have invested in their personal capacity.
The others investors are Sol Primero and Outbox Ventures and angel investor Sangram Singh.
The funds would be used to create a stronger networking ecosystem and expansion.
“Plabro Networks has the promise of changing the real estate landscape
with its innovative ideas. I am sure that real estate agents, who are an inherent stakeholders in the real estate sector, will benefit tremendously from the application,” Binny Bansal and Sachin Bansal were quoted as saying in a statement.
Founders of Flipkart and Snapdeal co-founders Kunal Bahl and Rohit Bansal have backed up number of start ups by investing in them at early stage.
“In first round of funding, we have raised $3,50,000 (about '2.3 crore) from a clutch of investors, including Flipkart co-founders Sachin Bansal and Binny Bansal,” Plabro Networks co-founder Pankaj Garg told reporters.
The funds would be used to create a stronger networking ecosystem and expansion.
Plabro’sco-founder Aaditya Jain said the free mobile app was currently being used by about 3,000 brokers in Gurgaon and Noida.
“By sharing the inventories and requirements with other real estate brokers, one increases the reach manifolds. This helps in closing the deals faster, expanding the business horizon beyond geographical limitations,” he said.
