Real estate portal housing.com has raised $100mn funding from SoftBank.
Post funding, Softbank has acquired 30% stake in the company. Others participating in the funding round included hedge fund Falcon Edge, DST Global and the existing investors Helion, Nexus and Qualcomm.
“We have 3.5 lakh listings across 45 cities in India. We have listed 15000 new projects on the website in the past 3-4 months.
6 months ago we made around 300-400 listing on the website per day, today it has risen to 3000-4000 listings per day. We are expecting it to grow to 12000-13000 listings per day on our website.
Our plan is to map every house in the country as soon as we can.
The company however has declined any comment on the funding news.
Competitor, Commonfloor recently raised $30mn led by Tiger Global and IndiaProperty raised $12mn.
SoftBank has been on an investment spree in India and Housing is latest on the list. Previous investments include listicle website ScoopWoop and cab service provider Ola.