Building India's First PropTech Unicorn

22nd March 2022
Mayank Khanduja, Amit Kumar Agarwal
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Episode Description

In Episode 8 of Summit Series, Mayank Khanduja (Partner, Elevation Capital) speaks to Amit Kumar Agarwal (Co-founder, NoBroker) on the journey of building India’s first prop-tech unicorn.

NoBroker was founded in 2014 and since then, the company has served over 16 million customers across India and has over 7.5 Mn properties listed on its platform. Over the years, NoBroker has also expanded its offerings to financial services (home loans, rent payments & deposit loans, insurance etc.), home services (cleaning, furniture, packers & movers etc.) and also new platforms such as NoBrokerHood in the community management space, thereby becoming the one-stop solution for everything real-estate. Elevation I partnered with the company as the first investor by leading the $3 Mn seed round in February 2015.

Episode Summary

00:13 - Introduction to NoBroker and its pathbreaking journey

02:30 - Core thesis behind NoBroker and how the founding team decided on solving the ‘broker problem’

5:05 - How NoBroker solved the supply quality problem in a C2C marketplace

9:11 - Competitive landscape in proptech when NoBroker started

15:16 - Design choices in the initial days of starting NoBroker

21:10 - How Amit thought about starting to monetise the platform

24:20 - Early fundraise conversations for NoBroker

32:02 - How Amit has evolved as a leader over the years