HouseEazy Secures Rs 150 Crore for Home Resale Marketplace

HouseEazy, a prominent home resale marketplace, has successfully raised Rs 150 crore ($18 million) in its Series B funding round, led by Accel, with contributions from Chiratae Ventures, Antler, and several venture debt funds. This funding round follows a previous Series A funding of $7 million secured in August last year. In December 2023, HouseEazy had acquired $1 million in a seed funding round led by Antler, in addition to $370,000 received in pre-seed funding back in June 2022. The funds will be allocated towards enhancing technology, broadening their reach to additional cities, and strengthening brand development. HouseEazy concentrates on India’s secondary housing market, which is predominantly offline and lacks structure.

Operational Insights of HouseEazy

Founded by Tarun Sainani and Deepak Bhatia, HouseEazy functions as a comprehensive platform overseeing pricing, verification, financing, and transaction assistance. The founders bring over thirty years of expertise in managing residential properties.

Efficient Transactions with Innovative Technology

HouseEazy facilitates resale home transactions that can be completed within weeks. Its AI-driven pricing engine leverages more than two million data points to deliver real-time property valuations. Additionally, the platform offers virtual home viewings through AR/VR technologies.

Achievements and Expansion Plans

The company asserts that it has enabled property transactions amounting to Rs 2,000 crore for over 2,500 homeowners. Currently, its annual gross merchandise value (GMV ARR) is Rs 850 crore, reflecting a year-on-year doubling in growth. HouseEazy operates within Noida, Ghaziabad, and Gurugram, with intentions to expand into Pune, Mumbai, and Bengaluru. At present, it collaborates with over 4,000 channel partners.

Financial Performance Overview

According to various reports, HouseEazy reported operating revenue of Rs 10.7 crore in FY24, alongside total expenses amounting to Rs 10.26 crore, yielding a profit of Rs 30.99 lakh. The company has yet to disclose its financial results for FY25.