NoBroker Revenue, Valuation, Funding & Investors
NoBroker is valued at $1B as of March 2023, a 15.4x multiple on its last reported $65M revenue.
Last NoBroker valuation
$1B
Series E · Mar 2023
Last NoBroker funding round
$5M
Series E · Mar 2023
NoBroker revenue
$65M
Series E · Mar 2023
Key investors in NoBroker
General Atlantic
Elevation Capital
Tiger Global
BEENEXT
Rocketship.vc
Digital Garage
About NoBroker
NoBroker is a Bangalore-headquartered proptech platform facilitating direct property transactions in India. It lists rentals, sales, and purchases in cities like Mumbai, Delhi, and Hyderabad with virtual tours and verified owner details. Additional services cover rent collection via NoBroker Pay, home interior design through NoBrokerHood, and relocation with packers. Founded in 2014, the platform operates in 10 major metros.
Founded
2014
HQ
BangaloreWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Commission
Revenue
$65M (Mar 2023)
Valuation
$1B (Mar 2023)
NoBroker Valuation
NoBroker is currently valued at $1B, based on its Series E in March 2023.
The $5M round was led by Alphabet.
NoBroker's valuation has grown 5.0x from $200M at its Series C in June 2019 to $1B in March 2023, across 5 priced rounds.
NoBroker valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Mar 2023 | Series E | $1B | 15.4x |
| Nov 2021 | Series E | $1B | - |
| Apr 2020 | Series D | $350M | - |
| Oct 2019 | Series D | $325M | - |
| Jun 2019 | Series C | $200M | - |
NoBroker Revenue
NoBroker's latest recorded revenue is $65M, as of its Series E in March 2023. At a $1B valuation, that implies a 15.4x revenue multiple.
NoBroker revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Mar 2023 | $65M | $1B | 15.4x | Series E |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
NoBroker Funding History
NoBroker has raised a total of $377M across 9 funding rounds.
NoBroker's first fundraising round was a $3M Series A in February 2015. The most recent completed round was a $5M Series E in March 2023.
NoBroker funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2023 | Series E | Alphabet (lead) | $5M | $1B | NoBroker is India's first proptech unicorn, founded in 2014 by Akhil Gupta, Saurabh Garg, and Amit Kumar Agarwwal. The platform operates across property-related services including renting, buying, selling, home services, financial services, and society management through its NoBrokerHood app. In March 2023, NoBroker raised $5 million (Rs 40 crore) from Google as part of an extended Series E funding round, at a post-money valuation of $1 billion. The funding came from Google's $10 Billion India Digitization Fund and was joined by existing investors General Atlantic, Tiger Global, and Moore Strategic Ventures, who had led the initial Series E round in November 2021 when NoBroker secured $210 million and achieved unicorn status. At the time of this investment, NoBroker reported over 1 crore properties registered on its platform and more than 2.5 crore registered users. The platform operated across six primary cities—Bangalore, Chennai, Delhi-NCR, Hyderabad, Mumbai, and Pune—with NoBrokerHood's society management service active in five additional cities including Kolkata, Coimbatore, Ahmedabad, Jaipur, and Lucknow. The company had cumulatively helped customers save Rs 11,000 crore in brokerage fees across rent, buy, and sell transactions. The capital was allocated to expand market reach across new cities, enhance the home search experience on the platform leveraging Google's consumer tech expertise, and accelerate growth of NoBrokerHood's society management services, with a stated objective to reach 1 lakh societies within years. |
| Nov 2021 | Series E | General Atlantic (lead); Moore Strategic Ventures (lead); Tiger Global (lead) | $212M | $1B | NoBroker, founded in 2014 by IIT alumni Amit Kumar Agarwal, Akhil Gupta, and Saurabh Garg, is a Bengaluru-based proptech unicorn offering brokerage-free real estate services including rentals, sales, home loans, packers and movers, and legal documentation. The platform connects property owners and tenants directly, addressing information asymmetry in India's real estate market, and has expanded into value-added services like NoBroker Pay for rent payments, home services, and financial products. It became India's first proptech unicorn in November 2021 with a $210 million Series E funding round led by General Atlantic, Tiger Global, and Moore Strategic Ventures, achieving a post-money valuation of $1.01 billion USD. Total funding raised by the company reached over $361 million by 2023, including subsequent investments from Google. The November 2021 round marked a significant milestone, propelling NoBroker to unicorn status after earlier rounds from investors like SAIF Partners (now Elevation Capital) and others from Japan and South Korea. The company emphasized extreme frugality and a 'cockroach mentality' in operations, serving over 35 lakh customers and claiming to save users over 250 crores annually in brokerage fees. Post-round, NoBroker aimed for expansion to 50 cities, cash flow positivity, and an eventual IPO within five years. Financial filings show strong revenue growth in later years, with FY23 operating revenue at Rs 608.8 crore (up 86.8% from Rs 325.9 crore in FY22), though losses widened to Rs 506.3 crore due to rising expenses. The firm reported total funding of around $354-426 million across rounds by recent estimates. |
| Apr 2020 | Series D | General Atlantic (lead) | $30M | $350M | NoBroker is a Bengaluru-based online real estate platform launched in 2014 by Amit Kumar Agarwal, Akhil Gupta, and Saurabh Garg, offering brokerage-free transactions for renting or buying apartments and houses by directly connecting users with property owners. It has expanded into additional services like NoBroker Pay, NoBroker Hood for community management, home services, and a home store, operating in cities including Mumbai, Bengaluru, Pune, Chennai, Hyderabad, and Delhi-NCR. The platform lists over 3.5-3.5 million properties and has served more than 8.5 million users, adding 75,000 new listings and 350,000 new users monthly as of early 2020. In April 2020, NoBroker raised $30 million from General Atlantic as an extension to its Series D round, which began in 2019 with $50 million led by Tiger Global and participation from General Atlantic, bringing the total Series D to $80 million and overall funding to around $214.5-222 million. This investment made General Atlantic the largest shareholder with a 30.89% stake, ahead of SAIF Partners (20.08-22.08%) and Tiger Global (10.17%). Reports indicate a post-money valuation of approximately $400 million following this round, up 45% from $275 million in July 2019, though one report cited $372 million. The funds were earmarked for improving user experience, faster deal closures, platform innovations, expansion to new cities, increasing listings, strengthening sales, and deepening engagement across its ecosystem. NoBroker had previously raised $51 million in Series C in June 2019 led by General Atlantic, bringing total funding at that time to $71 million. In February 2020, it acquired Gurugram-based Society Connect to bolster NoBrokerHood. |
| Nov 2019 | Series A | General Atlantic (lead) | $10M | - | NoBroker, a Bengaluru-based property listings platform, enables users to find homes for rent or purchase without paying brokerage fees. It operates an end-to-end transaction model in cities including Mumbai, Bengaluru, Pune, Chennai, and Gurugram. The company raised $51 million in its Series C funding round on June 5, 2019, led by General Atlantic, with participation from existing investors SAIF Partners and BEENEXT, bringing total funding to $71 million. The funds support expansion of operations, acceleration of customer and deal-closure growth, investment in home store and financial services products, and strengthening of machine learning and AI technologies. NoBroker had previously raised $10 million in Series B in 2016 and $3 million earlier from SAIF Partners and Fulcrum Capital. At the time, it had onboarded over 2.5 million properties and served more than six million individual customers. |
| Oct 2019 | Series D | Tiger Global (lead); General Atlantic | $50M | $325M | NoBroker Technologies Solutions, a Bengaluru-based proptech startup founded in 2014 by Akhil Gupta, Saurabh Garg, and Amit Kumar Agarwal, operates an eponymous platform that enables direct C2C real estate transactions for rentals, sales, and purchases without brokers. It offers integrated services including home stores for loans, packers and movers, legal documentation, and online rent payments, leveraging machine learning and AI to streamline transactions and reduce costs. By October 2019, it had registered over 30 lakh properties and served more than 70 lakh users across six cities: Mumbai, Bangalore, Pune, Chennai, Hyderabad, and Gurgaon. In its Series D funding round on October 2, 2019, NoBroker raised $50 million led by Tiger Global Management, with participation from existing investor General Atlantic, AIF Partners, Rocketship.vc, and Beenext. This brought total funding to $121 million following a $51 million Series C in June 2019 also involving General Atlantic and Tiger Global. The valuation post-round was reported between $300 million and $350 million. Funds were earmarked for expansion to 20 cities within two years and launching an apartment management product for security and neighborhood insights. Tiger Global partner Scott Shleifer praised NoBroker's tech-driven approach to end-to-end real estate transactions in India's large market. The company had recently expanded to Hyderabad in August 2019. Later rounds included a potential $100-130 million at $400 million valuation discussed pre-Series D, and subsequent raises like $30 million in 2020 at $400 million. |
| Jun 2019 | Series C | General Atlantic (lead); Tiger Global (lead); Rocketship.vc; Elevation Capital; BEENEXT | $51M | $200M | NoBroker is a Bengaluru-based real estate technology platform founded in 2014 that connects property owners and tenants directly without brokerage fees, offering services like house-hunting subscriptions, home services, and property listings across multiple cities. It has evolved into India's first proptech unicorn, raising a total of $366 million to $376 million across 10 funding rounds from investors including Tiger Global, BEENEXT, Elevation Capital, and General Atlantic, with its latest known round in early 2023 at Series E stage. NoBroker reported operating revenue of Rs 803 crore in FY24 (ending March 2024), up 32% from Rs 609 crore in FY23, primarily from subscription-based services contributing 99% of income, alongside a net loss of Rs 411 crore and negative EBITDA margin of -42.45%. The company aims for profitability in 18-20 months from recent reports, expansion to 50 cities, cash flow positivity, and a potential IPO within five years, while maintaining over 5,000 employees and significant web traffic. |
| Dec 2016 | Series B | KTB Ventures (lead); Elevation Capital; Digital Garage; BEENEXT | $7M | - | NoBroker is a real estate search portal established in 2014 that connects flat owners and tenants directly, charging no brokerage. Founded by IIT and IIM Ahmedabad graduates Amit Kumar Agarwal, Akhil Gupta, and Saurabh Garg, it operates in Mumbai, Bangalore, Pune, Chennai, and Gurugram. The company offers financial services like rent payment, home loans, and legal services related to properties. On December 19, 2016, NoBroker received funding with investors including KTB Ventures and SAIF Partners (now Elevation Capital). It has also been backed by Fulcrum Venture India and BeeNext. |
| Feb 2016 | Series B | BEENEXT (lead); Rocketship.vc; Qualgro VC; Elevation Capital; Beenos Partners; Digital Garage; KTB Network | $10M | - | NoBroker, a Bengaluru-based brokerage-free property search portal founded in 2013 by Akhil Gupta and Amit Kumar Agarwal, raised $10 million in its Series B funding round on February 24, 2016, led by BEENEXT and Digital Garage, with participation from BEENOS, Qualgro, Mamoru Taniya of Asuka Holdings, and existing investor SAIF Partners (now Elevation Capital). The funds were allocated to hiring in product and technology, marketing activities, and expanding operations to 20 cities in India over the next two years, building on its presence in Mumbai, Bangalore, Pune, and Chennai. At the time, NoBroker had grown its customer base from 35,000 to 650,000 in the last 12 months despite shifting to a subscription-based model featuring a Freemium plan for tenants, Freedom plan at Rs. 999, and Relax plan at Rs. 1999, while claiming to save customers over Rs. 15 crores in brokerage monthly. The company targeted the $6.5 billion non-brokerage market in India, aiming to capture 70% and achieve profitability within 18 months, with the residential rental and resale brokerage market in top 20 cities projected to grow to $17 billion in five years. |
| Feb 2015 | Series A | Elevation Capital; Fulcrum Venture India | $3M | - | - |
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Who has invested in NoBroker?
13 investors have backed NoBroker across its funding rounds, including General Atlantic, Elevation Capital, Tiger Global, BEENEXT, Rocketship.vc and Digital Garage.
Lead investors include Alphabet, General Atlantic, Moore Strategic Ventures, Tiger Global, KTB Ventures and 1 other investor.
NoBroker Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 New York City, NY | 5 | Lead | Jun 2019 | |
| Gurgaon | 4 | Participant | Feb 2015 | |
 Singapore | 3 | Lead | Feb 2016 | |
| New York City, NY | 3 | Lead | Jun 2019 | |
| San Francisco, CA | 2 | Participant | Feb 2016 | |
 Tokyo | 2 | Participant | Feb 2016 | |
| Singapore | 1 | Participant | Feb 2016 | |
| Tokyo | 1 | Participant | Feb 2016 | |
| Chennai | 1 | Participant | Feb 2015 | |
 Seongnam | 1 | Participant | Feb 2016 | |
| San Francisco, CA | 1 | Lead | Dec 2016 | |
This data is available for Pro users. Sign up to see all 13 NoBroker investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by NoBroker
NoBroker has acquired 1 company to date.
Last acquisition by NoBroker was on February 11th 2020. NoBroker acquired Society Connect for undisclosed valuation.
Latest Acquisitions by NoBroker
| Description | Society Connect is an India-based SaaS platform for managing residential society operations including maintenance billing, visitor tracking, and complaint resolution. The service integrates accounting, security, and communication tools for apartment complexes and gated communities. Deployed in over 1,000 societies across major Indian cities like Mumbai and Bangalore, it streamlines daily administrative tasks. |
| HQ Country | |
| HQ City | Gurgaon |
| Deal Date | 11 Feb 2020 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all NoBroker acquisitions and their M&A valuation multiples. Start Free Trial | |
NoBroker Competitors
NoBroker competitors include listed companies like Hemnet, Grupa Pracuj, Baltic Classifieds Group and Alma Media, and private ones like Chemao and Iwjw.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Sweden | Publicly listed | $156M | $78M | $685M | 5.2x | |
 Poland | Publicly listed | $214M | $95M | $1B | 4.4x | |
 Lithuania | Publicly listed | $102M | $79M | $1.1B | 10.9x | |
 Hangzhou | Private | - | - | $1.1B | - | |
 Finland | Publicly listed | $377M | $110M | $1.3B | 3.7x | |
| Shanghai | Private | - | - | $1B | - |
NoBroker Public Comps
NoBroker is still privately-owned, but its public comps include SMZDM.com, QuinStreet, Wework India Management, Grupa Pracuj, Ibotta, Summit Real Estate Group, LegalZoom, Nextdoor, Tripadvisor and Upwork.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $192M | $19M | 4.9x | 4.7x | 47.8x | 42.1x | |||
| $1.3B | $61M | 0.7x | 0.7x | 15.8x | 7.9x | |||
| $254M | $165M | 6.0x | 5.4x | 9.3x | 8.3x | |||
| $214M | $95M | 4.6x | 4.4x | 10.3x | 9.7x | |||
| $342M | $7M | 2.5x | 2.4x | 114.9x | 15.3x | |||
| $291M | $245M | 8.5x | - | 10.2x | - | |||
| $756M | $74M | 1.2x | 1.1x | 12.1x | 4.8x | |||
| $258M | ($69M) | 2.4x | 2.2x | (8.8x) | 27.8x | |||
This data is available for Pro users. Sign up to see all NoBroker competitors and their valuation data. Start Free Trial | ||||||||
Common questions about NoBroker
| When was NoBroker founded? | NoBroker was founded in 2014. |
| Where is NoBroker headquartered? | NoBroker is headquartered in Bangalore, India. |
| Is NoBroker publicly listed? | No, NoBroker is a private, VC-backed company. |
| What is NoBroker's valuation? | NoBroker was last valued at $1B in its Series E in March 2023. |
| How much funding has NoBroker raised? | NoBroker has raised $377M across 9 funding rounds. |
| What was NoBroker's last funding round? | NoBroker's last funding round was a $5M Series E in March 2023, led by Alphabet. |
| Who are NoBroker's investors? | NoBroker's investors include General Atlantic, Elevation Capital, BEENEXT, Tiger Global, Rocketship.vc, Digital Garage, Qualgro VC, Beenos Partners, Fulcrum Venture India, KTB Network and 3 others. |
| What is NoBroker's revenue? | NoBroker's latest recorded revenue is $65M (March 2023). |
| What is NoBroker's revenue multiple? | NoBroker's latest valuation implies a 15.4x revenue multiple ($1B valuation on $65M of revenue). |
| Which companies are comparable to NoBroker? | Companies comparable to NoBroker include Hemnet, Grupa Pracuj, Baltic Classifieds Group, Chemao, Alma Media and Iwjw. |
| How many companies has NoBroker acquired? | NoBroker has acquired 1 company, including Society Connect. |
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