Housing.com raises funds from ex-99Acres.com head Vineet Singh

Online real estate platform Housing.com today said former business head of 99Acres.com Vineet Singh has invested in the company.

The amount invested was, however, not disclosed.

Singh will closely work with the Housing.com management team in a senior advisory role, the Softbank-backed company said in a statement.

As part of Info Edge's executive leadership team for a decade, Singh built 99Acres.com and Naukri.com from startups to scaled companies with strong sales capabilities, it added.

Currently, Singh is co-founder, CEO and MD of Buildczar.com, a marketplace for building materials and finishing products.

"On board as a personal investor, Vineet will also serve as a senior advisor to the company working closely with the management team. We believe that his association will further fuel the ambitious growth plans of Housing.com," Housing.com CEO Jason Kothari said.

In January, SoftBank had made a fresh investment of Rs 100 crore in Housing.com to help the realty portal consolidate its position in the heavily contested online property segment.

Housing.com, which competes with the likes of Rupert Murdoch-backed PropTiger, Magicbricks and Commonfloor, had received USD 90 million funding in December 2014.

Softbank has over 30 per cent stake in the portal.

Founded in 2012, Housing.com has raised over USD 100 million in capital from leading investors, including SoftBank, Nexus Ventures, Falcon Edge and Helion Ventures.

With 1.7 million verified listings to date, Housing.com has acquired an online community for real estate (India Real Estate Forum), a popular CRM for developers (HomeBuy360), and a data analytics and due diligence firm for real estate (Realty Business Intelligence) in the past.