HouseEazy, a marketplace for resale homes, announced on Monday that it has secured USD 7 million in a Series A funding round led by Chiratae Ventures.

The startup HouseEazy focused on property technology plans to utilize the recently raised capital to extend its expansion into new locations within the National Capital Region (NCR), grow its team, and improve its product.

The funding round, comprising both equity and debt, also included contributions from existing investors Antler and Alteria Capital.

The funds raised by HouseEazy will support the company’s growth in new NCR locations, reinforce its presence, expand its team, and enhance its product range.

Anoop Menon, ConsumerTech Sector lead at Chiratae Ventures, said that HouseEazy has developed an end-to-end solution focusing on property supply and distribution, bringing uniqueness to its model through extensive founder experience and exclusivity. 

Menon further expressed excitement at partnering with HouseEazy, emphasizing the company’s substantial progress over a short period in establishing itself as the go-to platform for pre-owned home transactions in India.

Last year, the Noida-based company raised approximately USD 1 million in a seed funding round, and its valuation was USD 8.09 million as of December 10, 2023.

HouseEazy provides sellers with real-time price quotations using a proprietary machine-learning algorithm, drawing from over 1.5 million data points. Sellers can conclude transactions promptly at the best price, eliminating the need for multiple meetings and negotiations.

For potential buyers, HouseEazy offers access to an inventory they can browse from the comfort of their homes, aided by AR/VR tools such as virtual staging and 3D walkthroughs.

According to co-founder Deepak Bhatia, HouseEazy anticipates achieving a gross merchandise value (GMV) and annual recurring revenue (ARR) of Rs 1800 crore in the next 15-18 months solely from the NCR market.

The company is operational in Noida and Ghaziabad and has recently expanded into Gurugram. Plans involve extending operations to Tier I cities such as Pune, Mumbai, and Bengaluru.

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