Proptech Disruptor Settlin Secures Funding from Guptaji Invests and Others, Achieves Profitability Milestone3 months ago Tata Teja
In a strategic move that underlines its ascent in the real estate sector, Settlin, a leading Proptech digital broker specializing in resale homes, has successfully raised an undisclosed amount from a consortium of investors, including Powerhouse Ventures, Kyt Ventures, Investo Monk, Guptaji Invests, Ah Ventures, and PV Rao of PVR Cinemas.
Remarkably, Settlin has recently achieved profitability, marking a significant milestone for the company. The injected capital will be strategically utilized to enhance working capital flow and expand operational capacities. The company has set an ambitious target of selling 4,000 units over the next 12 months.
Settlin, founded by alumni of IIT-Kanpur and IMT-Nagpur, stands out as the first and only e-commerce platform dedicated to resale homes, offering an end-to-end solution from property intent to registration. Currently operational in Bengaluru, Settlin focuses on simplifying real estate transactions through a robust tech platform, integrating automatic creation and execution of real estate sales, data analytics, and related services.
Sudhanshu, Co-founder of Settlin, expressed, “We have grown 5x in the last 15 months, post our pre-series A, and have successfully proven the model. Settlin currently handles 12,000 unique buyers monthly and is selling ~100 homes every month.”
Settlin’s approach diverges from traditional methods, opting for a digitized process that streamlines the buying and selling of resale homes through assembly line automation. The company manages thousands of customers daily, leveraging an asset-light and scalable model. The digitized approach extends to offline property visits conducted via a gig-greeter network, ensuring efficiency and scalability.
With plans to sell 1,000 homes in CY2023 and expand operations to Mumbai within the next 12 months, Settlin is positioned for significant growth. The company’s innovative strategies, coupled with its recent funding success, solidify its position as a disruptor in the Proptech landscape.
As the company charts a course for further expansion and raises growth capital, Settlin’s journey continues to reshape the Indian real estate market, offering a unique and tech-driven solution to both sellers and buyers.