HouseEazy, an innovative resale homes marketplace, successfully raised ₹150 crore in its Series B funding round through a group of investors. This large injection of capital is to be used in powering the aggressive expansion strategies of the company. Accel, one of the leading venture capital firms, led the funding round and was also joined by the existing investors of the company, Chiratae Ventures and Antler. The successful fundraising announcement took place in a company statement on Tuesday, which indicated the high confidence level in the business model of HouseEazy.

Vision and utilisation of fresh capital

The new funds collected in the Series B financing are to be used strategically in various pillars of the business. The capital infusion is mainly aimed at supporting the development of technology, which is the core of the operation of HouseEazy. The capital will be utilized in geographic diversification of new markets and brand development. The capital will also help the company consolidate its basket of services with a view to providing a more holistic solution to its customers in the home ownership process.

HouseEazy was established by Deepak Bhatia and Tarun Sainani. Bhatia indicates that the company was founded on the idea of revolutionizing the whole home ownership experience and delivering a secure one-stop to purchase and sell homes, which Indian consumers have yet to experience.

The platform is founded on the three central pillars of trust, speed, and convenience to simplify the traditionally complicated resale process. Co-founder Tarun Sainani also gave a testimonial to the initial successes of the company, saying that within three years, HouseEazy has helped to facilitate transactions with more than 2,500 homeowners, with the value of the properties transacted through the company being over ₹2,000 crore.

Expansion plan

HouseEazy is presently active in major urban areas of the National Capital Region (NCR), that is, in Noida, Ghaziabad, and Gurugram. After the successful fundraising Series B, HouseEazy is currently ready to grow to new cities and open up new lines of business. The short-term geographic expansion strategy aims at other key Tier-1 markets within India, such as Pune, Mumbai, and Bengaluru.

The company has already developed a significant operational base to back up its rapid expansion because it has developed an effective network of more than 4,000 channel partners in its current markets. This growth is to replicate its successful model in other geographies. The capital inflow is anticipated to help it strengthen its technology base, spread across more geographic regions other than the NCR to the Tier-1 cities, and increase its services.

Conclusion

The successful Series B round in which HouseEazy has raised ₹150 crore with Accel as the lead investor, Chiratae Ventures, and Antler as supportive investors, has become a key milestone in its mission of changing the resale home industry. This capital justifies the HouseEazy design of offering a reliable, expedited, and convenient system of buying and selling houses and places the business on the path of rapid development as it endeavors to reach its objective of radically changing the whole process of the ownership of homes in India.