Zapkey, a proptech startup, has secured $2 million in seed funding led by Nikhil Kamath and Abhijeet Pai-backed Gruhas Proptech.
Others in the funding round include DLF Family Office, Blume Founders Fund, Alkem Labs Family, Aprameya Radhakrishna (co-founder, Koo), Srini Sriniwasan (MD, Kotak Investment Advisors), the company said in a statement.
Founded in 2020 by Shubhankar Dongre, Sandeep Reddy and Raja Seetharaman, Zapkey says it provides customers with guaranteed home sales within three months of the listing date. The pricing is driven by proprietary algorithms which track over 30 lakh property registration records.
“We have seen this model play out in the cars space with Cars24, Spinny and others. Globally, giant funded startups like Opendoor and Loft have demonstrated this in resale homes. The problem and the solution are clear, present, and inevitable. We intend to use this funding to strengthen our technology and operations teams,” said Dongre.
"Our initial programme has been launched in Thane (Mumbai) and we aim to close deals on over a 100 apartments in the next three to four months, supported by a credit line," he added.
“The resale home space is an over $50 billion market. The sheer scale that this market presents is an incredible opportunity. We believe Zapkey has the perfect team and motivation to take advantage of this opportunity and we have full conviction in backing them,” said Abhijeet Pai, partner at Gruhas Proptech.
“Over 300,000 resale homes change hands in the top seven cities annually. Technology is enabling fantastic experiences in every trade around us. I’m excited to be partnering with Zapkey on this opportunity,” said Rahul Talwar of the DLF Family Office.
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