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Property website PropTiger raises Rs 25 crore from Saif, Accel

PropTiger, an online property website targeting first-time
homebuyers has raised Rs 25 crore from Saif Partners and Accel Partners.  Post funding, Ravi Adusumalli of SAIF and
Prashanth Prakash of Accel have joined PropTiger’s Board. The funds raised will
be used to further strengthen PropTiger’s position in India’s across 8 cities

PropTiger, an online property website targeting first-time
homebuyers has raised Rs 25 crore from Saif Partners and Accel Partners.  Post funding, Ravi Adusumalli of SAIF and
Prashanth Prakash of Accel have joined PropTiger’s Board. The funds raised will
be used to further strengthen PropTiger’s position in India’s across 8 cities
where it operates and increasing head count to 500 real estate experts by
mid-2013.

PropTiger Realty Private Limited was founded in February
2011 by Dhruv Agarwala, Kartik Varma and Prashan Agarwal. Dhruv And Karthik
earlier founded iTrust Financial Advisors Pvt Ltd, which was acquired by Karvy
Private Wealth in 2011. iTrust offers services like financial planning and
filing of income tax returns and also runs personal finance portal iTrust.in. PropTiger
claims to have sold a total of 2.2 million square feet of residential real
estate across India and achieved a gross value of property sold amounting to Rs
1,100 crore since inception. The company’s target is to reach Rs 10,000 crore of
gross value of property sold by 2016.

Recently, Accel Partners along with Blume Ventures and
Mumbai Angels invested $1.2 mn in Hotelogix -cloud-based hospitality solutions
provider.Accel partners also invested $6Mn in Zansaar – E-retailer of home
decor products along with Tiger Global. SAif Partners along with IDG Ventures
invested $14 Mn in Brainbees Solutions Pvt Ltd which owns FirstCry.com and
Goodlife brand.

Last year, Mumbai-based RCSPL, which owns real
estate group buying portal Groffr.com raised its first round of funding from
Indian Angel Network. Bessemer Venture Partners, Mayfield Fund and Canaan
Partners invested R100Cr in Consim Info Pvt Ltd which runs an online job portal
(ClickJobs.com) and a property website (IndiaProperty.com) apart from BharatMatrimony.com.

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