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Home Gadgets Proptech startup PropShare raises $47 million led by WestBridge Capital

Proptech startup PropShare raises $47 million led by WestBridge Capital

Proptech startup PropShare has secured Rs 367 crore ($47 million) in funding led by WestBridge Capital, with participation from present traders Pravega Ventures.

The actual property funding platform will use the capital to scale its platform throughout geographies and real-estate asset courses by increasing distribution channels and investing in know-how and other people.

“By partnering with WestBridge Capital, we plan to develop to over $1 billion in transacted belongings on the platform by increasing into new geographies and property sorts whereas holding know-how and our traders on the core of our choices,” Hashim Khan, cofounder & chief know-how officer (CTO), PropShare stated.

The corporate may also give attention to utilising know-how to enhance platform-user experiences for the purchasers by rising liquidity, including extra product traces, and bolstering investor relations.

“We’re very excited to associate with Kunal [Moktan] and Hashim [Khan] who include vital expertise in institutional actual property investing and know-how. PropShare has scaled to $125 million+ in AUM with excessive capital effectivity, and has already achieved profitability,” stated Deepak Ramineedi, associate at WestBridge Capital.

Based in 2016, PropShare is a technology-driven actual property funding platform that allows traders to buy business actual property belongings.

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