HouseEazy, a marketplace for resale homes, secured USD 7 million from investors to expand its business. The company announced it raised the funds in a series-A funding round, which combined equity and debt. Chiratae Ventures led the round, with participation from Alteria Capital and existing investor Antler.
Seven months ago, in December 2023, the company completed its seed financing round. HouseEazy plans to use the new funds to expand into new geographies in the NCR region, enhance brand visibility, grow its team, and improve its product offerings.
Tarun Sainani, Co-founder of HouseEazy, said, “In the primary market, the real estate developer typically serves as the anchor, but no single player was addressing all the needs of resale buyers and sellers. These transactions were traditionally conducted with multiple stakeholders, leading to inherent risks and lengthy closure times.”
“We’ve completely re-engineered the process, enabling customers to buy or sell resale homes in under 15 days on the HouseEazy platform with 100 per cent safety,” he added.
Sainani mentioned that in a short time, the company has already served over 1,000 customers. HouseEazy uses a proprietary machine-learning algorithm with over 1.5 million data points to provide sellers with real-time price quotes. This allows sellers to finalize their transactions instantly at the best price, avoiding multiple meetings and negotiations.
For buyers, HouseEazy offers access to exclusive, refurbished inventory, which they can explore using advanced AR/VR tools like 3D walkthroughs and virtual staging.
The platform also provides mortgage, legal, and registry services, making it a one-stop solution for all resale customers.
Deepak Bhatia, Co-founder of HouseEazy, said, “We have already hit a GMV (gross merchandise value) ARR (annual run rate) of Rs 425 crore, and expect to hit Rs 1,800 crore GMV ARR in the next 15-18 months from the NCR market alone.”
The company operates in Noida and Ghaziabad and has recently expanded into Gurgaon. It also plans to extend its presence to tier 1 cities such as Pune, Mumbai, and Bengaluru.
