Proptech Firm Reloy Raises INR 7.2 Crore in Funding to Expand Business Operations

• ByStartupStory     |    June 30, 2023

Reloy, a proptech firm backed by HDFC Capital, has successfully raised INR 7.2 crore from investors in a pre-Series A2 funding round. The company, formerly known as Loyalie, aims to utilize the investment to fuel its growth and expansion plans, further strengthening its position in the real estate market.

Existing investors, along with new investors such as BlueLotus VC and Dream Green Capital, participated in the funding round, highlighting the confidence and support in Reloy’s business model and vision. With this latest infusion of capital, Reloy’s total external funding has now surpassed INR 13 crore.

Akhil Saraf, Founder and CEO of Reloy, emphasized the importance of empowering builders with referrals, stating, “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.”

HDFC Capital Advisors, in April of this year, announced its intention to increase its stake in Reloy (formerly Loyalie IT Solutions) from 7.2 percent to up to 9.6 percent. As part of this initiative, HDFC Capital Advisors acquired 1.67 lakh compulsory convertible preference shares (CCPS) at a price of INR 89.81 per equity share, with a transaction value of INR 1.49 crore. In March of the previous year, HDFC Capital had acquired a 7.2 percent equity stake in Reloy for INR 1.1 crore.

Reloy has been actively collaborating with top real estate developers to enhance the home-owning experience through their customer loyalty programs. The company’s turnover has witnessed significant growth, reaching approximately INR 13 crore in the 2022-23 fiscal year, compared to INR 4.33 crore in the previous year.

With a focus on post-purchase services such as document management, construction tracking, and payments, Reloy assists homeowners in navigating the various aspects of property ownership. Additionally, the company has created a marketplace to cater to other connected needs, including home interiors and home finance.

Established in 2015, Reloy has specialized in real estate loyalty and referrals since 2018. The company operates as a B2B2C homeowner and broker management platform, offering efficient solutions for builders to manage their customers and brokers effectively.

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