Broker Network, founded in 2020 by Housing.com founder Rahul Yadav, connects brokers with real estate developers and buyers. It also allows users to list their properties on the platform and offers home loan-related services to its clients via third-party lenders such as banks and non-banking financial corporations (NBFCs).
Broker Network, the proptech startup of Housing.com founder Rahul Yadav, is raising nearly INR 90 Cr in funding from its sole and existing investor Info Edge. The startup will use the funding to fuel its expansion and growth plans.
The deal will be executed via Info Edge’s wholly-owned subsidiary Allcheckdeals India, which will own a 59.8% stake in the Mumbai-based proptech platform.
The board of 4B Networks, the parent company of Broker Network, passed a special resolution to issue 1,913 compulsorily convertible preference shares (CCPS) to Allcheckdeals India at an issue price of INR 4,70,465.24 per share, taking the total funding close to INR 90 Cr, according to 4B Networks’s regulatory filing with the Registrar of Companies (RoC).
Broker Network, founded in 2020 by Yadav, connects brokers with real estate developers and buyers. It also allows users to list their properties on the platform and offers home loan-related services to its clients via third-party lenders such as banks and non-banking financial corporations (NBFCs).
Info Edge invested INR 18 Cr in 4B Networks in December last year. The internet company followed it up with another investment of INR 9 Cr in February. Later in March, the Noida-based company invested another INR 137.12 Cr to acquire a majority stake in the startup.
In total, Info Edge has reportedly invested INR 227 Cr in Broker Network this year alone, including the latest funding.
