Coldwell Banker India , a franchisee of the US-based conglomerate Coldwell Banker Real Estate LLC, has raised an undisclosed amount of funding from Yodle co-founder Milind Mehere, the company said, on Friday.
As part of the deal, Mehere has joined the board of Coldwell Banker India, a real estate broking firm.
“The real estate buying experience in India is painful. The Indian consumer is sophisticated and has evolved over the last decade as real estate has become a dominant investment asset in India, yet the customer service and trust remain very poor,” said Mehere.
“We aim to make Coldwell Banker India a trusted brand that uses marketing, technology and online lead generation to help consumers buy their dream home effortlessly and as easy as opening a bank account,” he added.
Coldwell Banker India has over 25 offices in Mumbai, Pune, Bengaluru, Gujarat and Noida with over 130 employees. The company aims to have 100 offices and 500 trained agents by the end of 2016.
“We rely on his ability to understand customer behaviour and his diversified experience in marketing and technology to help us scale to a dominant franchising operation in India,” said Ramnik Chopra, MD, Coldwell Banker India.
Meher has over 15 years of experience. New York-based Yodle, an online advertising firm, was founded by him which recently got acquired by Web.com Group Inc for $342 million.
Meher also founded YieldStreet, an online investment marketplace in 2014. Earlier, he invested in BeautyBooked – a discovery and booking platform last year. The startup has been acquired by StyleSeat, a leading mobile and online destination for booking beauty and wellness appointments.
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