Real estate startup, Flyhomes, has raised $150 million (about ₹1,096 crore) as part of its series C financing co-led by Norwest Venture Partners and Battery Ventures.
The round also saw participation from Fifth Wall, Camber Creek, Balyasny Asset Management, Zillow co-founder Spencer Rascoff, and existing investors Andreessen Horowitz and Canvas Partners.
As part of the transaction, Lisa Wu of Norwest Venture Partners and Roger Lee of Battery Ventures will also join Flyhomes’ board of directors.
Flyhomes helps home buyers, and brings every step of the homebuying process, from brokerage to mortgage, under one platform.
“India has been our strategic partner ever since we started and an enabler in more ways than one. The country and its talent have been instrumental in the success of Flyhomes at a global level. As part of the expansion strategy, we are looking to triple the size of our team, and focusing on hiring engineers, product managers, growth hackers and business intelligence analysts with an entrepreneurial spirit,” said Tushar Garg, chief executive officer and co-founder, Flyhomes.
Flyhomes also enables sellers to buy and move into their next home before selling their current one, eliminating the hassle of moving twice, taking on a double mortgage, or living through house showings.
Further, if a Flyhomes buyer has to back out of a transaction, the platform will purchase the home, eliminating uncertainty for the seller.
Flyhomes has bought and sold homes worth more than $2.5 billion on its platform, since inception in 2016.
This article was first published on livemint.com.