Reloy, a proptech company backed by HDFC Capital that helps realtors generate referral sales, raised Rs 7.2 crore from investors to expand its operations. All of the company’s existing and new investors, including BlueLotus VC and Dream Green Capital, participated in a pre-series A2 funding round, according to Reloy (formerly known as Loyalie).
According to the company, the funds will be used to support its ambitions for growth and expansion.
The company raised Rs 5.9 crore from investors in February of last year, bringing the total value of external funding to nearly Rs 13 crore.
“India is now the world’s most populated nation with only the 7th largest land mass. We need our builders to create the largest cities the world has ever seen. It’s time we empowered good builders with our referrals,” Reloy founder and CEO Akhil Saraf said.
“Our solution streamlines the post-purchase journey that homeowners have with builders and rewards them with benefits across ancillary requirements of home interiors and home finance,” Saraf said.
The platform handles more than 1.4 lakh apartments. Its clientele includes Godrej Properties, DLF, Shapoorji Pallonji Real Estate, Embassy Residential, Mahindra Lifespaces, K Raheja Corp, Brigade and Piramal Realty.
In April of this year, HDFC Capital Advisors announced it would increase its stake in Loyalie IT Solutions (now renamed as Reloy) from 7.2 percent to 9.6 percent.
HDFC Capital Advisors acquired 1.67 lakh compulsory convertible preference share (CCPS).
The price of the preference shares was Rs 89.81 per equity share, making the total transaction amount Rs 1.49 crore.
For Rs 1.1 crore, HDFC Capital acquired a 7.2% equity stake in Loyalie IT Solutions (Reloy) in March last year.
To create the ideal home-owning journey through their customer loyalty programmes, Reloy has been collaborating closely with leading real estate developers.
In the 2022–23 fiscal year, its turnover increased from Rs 4.33 crore to nearly Rs 13 crore.
The company helps homeowners with post-purchase services like document management, construction tracking, and payments. Additionally, it develops a market for associated needs for home finance and interior design.
Reloy was founded in 2015 and has focused on loyalty and referrals in the real estate industry. Builders can manage their clients and brokers more effectively with the help of Reloy, a B2B2C homeowner and broker management platform.