Proptech startup Homexchange bags $4 million in funding to expand presence across the country

• ByStartupStory     |    July 14, 2022

Homexchange, a proptech firm, has acquired $4 million in a round of funding led by HDFC Capital, Oberoi Realty, and Anarock. The funding will be used by the Mumbai-based startup to expand its reach and strengthen its technology platform. The business will also invest in building alliances and increasing its hiring over several verticals.

Shirish Godbole and Jesal Sanghvi founded Homexchange in 2020 to allow customers to exchange their old property for a newer one. The company is now active in Mumbai, Thane, and Bengaluru. “We are a consumer-focused brand that brings together customers, developers, channel partners, and lenders in a transactional environment based on assurance. That is the enormous opportunity in an industry with $100 billion in transactions annually and expanding,” said Shirish Godbole, chairman, and co-founder of Homexchange.

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The proptech player claims to have executed contracts worth INR 120 Cr so far and has collaborated with prominent names like L&T Realty, Rustomjee, Puravankara, and Assetz, among others.

 Investment in the proptech industry is predicted to reach $1 billion by 2025, according to research by the Confederation of Indian Industry (CII) and Colliers. This is part of a bigger trend within the Indian real estate sector, which would be predicted to reach $1 trillion in market size by 2030, up from $200 billion in 2021.

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