HouseEazy, an online marketplace for pre-owned homes, has secured ₹33.5 crore (approximately $4 million) in a Series A funding round led by Chiratae Ventures Fund, with additional investments from Veena Jindal, Antler Innovation Fund, and IA Growth Opportunities Fund.
According to the company’s regulatory filings with the Registrar of Companies, the board at HouseEazy has issued a total of 3,915 shares at a face value of ₹10 and a premium of ₹85,666 on a preferential basis through private placement.
Chiratae Ventures contributed ₹29.62 crore, while Antler Innovation Fund invested ₹2.86 crore. IA Growth Opportunities Fund and Veena Jindal invested ₹76.25 lakh and ₹29 lakh, respectively.
According to startup data intelligence platform TheKredible, HouseEazy’s post-money valuation has reached ₹156 crore (over $18 million). The company may seek additional funding in this round, which could further adjust the valuation.
In December 2023, HouseEazy raised $1 million in a seed round led by Antler and previously secured $370,000 in pre-seed funding in June 2022.
Founded in 2021 by Tarun Sainani and Deepak Bhatia, HouseEazy is developing a comprehensive, data-driven technology platform that offers sellers competitive prices and instant liquidity, while providing buyers with title-checked, refurbished, ready-to-move-in homes.
The platform also provides mortgage, legal, and registry facilitation services, making it a one-stop solution for all resale customers.
Based in Noida, the company utilizes a proprietary machine-learning algorithm with over 1.25 million data points to deliver real-time price offers, streamlining the selling process by eliminating the need for multiple meetings and negotiations.
HouseEazy claims to have achieved an annual recurring revenue (ARR) of ₹425 crore (GMV) while maintaining profitability, and it aims to reach ₹1,800 crore ARR within the next 15-18 months from the NCR market alone.
For the fiscal year ending March 2023 (FY23), HouseEazy reported an operating revenue of ₹2.78 crore, with a loss of ₹44 lakh.