Soft Bank invests Rs 100 crore in Housing.com

Soft Bank invests Rs 100 crore in Housing.com

Soft Bank invests Rs 100 crore in Housing.com

Japan-based Soft Bank has invested Rs 100 crore in Housing.com, a Mumbai-based real estate startup which ran into losses last year.

“We are now well-capitalised to aggressively execute on our focused strategy and growth plans and believe 2016 will be a great year for the company,” Housing.com said in a statement. Housing.com had reported a net loss of Rs 279 crore in the year ending March 2015.

Prior to this, Sof Bank had invested over Rs 600 crore in Housing.com in November 2014. The bank remains its largest investor and has over 30 per cent stake in the company. Other investors include Nexus Ventures, Falcon Edge, Helion Ventures, Nirvana Ventures, Qualcomm, Viacom 18 co-founder Haresh Chawla, Snapdeal founders Kunal Bahl and Rohit Bansal.

The fresh investment by the Soft Bank comes close on the heels of speculation that leading eCommerce firm Snapdeal may buy the real estate startup found in 2012. The funding has come after restructuring of Housing.com operations after the exit of its co-founder and former CEO Rahul Yadav from the firm in July, last year.

“Housing.com is building scalable revenue streams around its world-class product, market leading demand and supply, and is also going deeper in the value chain towards facilitating and fulfilling transactions,” the company said.

In 2015, Housing.com acquired  India Real Estate Forum, HomeBuy360, and Realty Business Intelligence when it started re-aligning its business strategy after a spat of losses.
 

DH Newsletter Privacy Policy Get top news in your inbox daily
GET IT
Comments (+)