Lanchpad

Grabhouse.com raises $2.5 million in Series A funding from Kalari, Sequoia Capital

Grabhouse.com, a community-based online exchange for finding
rented accommodation, has raised $2.5 million in Series A funding round from
Kalaari Capital and Sequoia Capital.

Grabhouse.com, a community-based online exchange for finding
rented accommodation, has raised $2.5 million in Series A funding round from
Kalaari Capital and Sequoia Capital.

The new investment will be utilised to develop innovative
products and improve the existing technology to enhance the end-user experience
and to increase the company’s footprint across major cities in India, reports the
Economic
Times
.

Grabhouse at the moment offers a broker-free and transparent
experience to house hunters seeking rented or shared accommodation. The portal
uses a proprietary engine to map the needs and preferences of prospective
tenants and house owners that go beyond basic parameters such as budget and
location to recommend the best matches.

Grabhouse uses a community-based model to source and verify
listing-related information.

Commenting on the fund raise, Pankhuri Srivastava,
Co-founder, Grabhouse.com was quoted in the report as saying, “We are very
excited and enthused by the confidence shown by Kalaari Capital and Sequoia
Capital in our venture. Currently, a majority of real-estate deals take place
offline but there is a marked shift in this with 30% transactions being enabled
through internet-based offerings. With an increasing number of users joining
the internet bandwagon, we are certain that this transition will happen at a
faster pace which gives this segment an optimistic outlook.”

Founded by Pankhuri Shrivastava and Prateek Shukla from Mumbai,
the portal currently offers houses in Mumbai, Pune, Hyderabad and Bengaluru and
attracts traffic of about 1.5 million monthly visitors which is largely driven
through referrals and word of mouth.  The
company had previously raised $500k from India Quotient and others.

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