CommonFloor raises $7.5 million in capex

Property portal CommonFloor.com has announced that they have raised $7.5 million in a new round of funding.

The Series C has been raised from existing investors, Tiger Global Management and Accel India.

The new funds will be used to penetrate deeper into existing markets, expand marketing initiatives and invest in technology and product enhancement.

CommonFloor.com had earlier raised Series A from Accel India in 2009 and Series B in 2012 from Accel India and Tiger Global Management.

CommonFloor.com Co-founder and CEO Sumit Jain said, “The online play in real estate is a billion dollar opportunity and being the fastest growing real estate portal in the country, we are ideally placed to make the most of this.

It is also heartening to know that for many consumers out there, CommonFloor.com is the first choice when it comes to finding a suitable property.”

CommonFloor.com has more than 60,000 projects listed on their portal and this is the largest compared to any property portal in India.

The number of property listings has grown by more than 500% in the past financial year and the portal currently has more than 1 lakh live active listings.