Settlin, Proptech Innovator, Secures Funding from Top Investors and Reaches Profitability Milestone
In a strategic move underscoring its rise 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. The group includes Powerhouse Ventures, Kyt Ventures, Investo Monk, Guptaji Invests, Ah Ventures, and PV Rao of PVR Cinemas.
Settlin has recently achieved a major milestone by reaching profitability. The newly acquired capital will be used to boost working capital and expand operational capacities. The company aims to sell 4,000 units over the next 12 months.
Founded by alumni of IIT-Kanpur and IMT-Nagpur, Settlin is distinguished as the first and only e-commerce platform dedicated to resale homes. It provides a comprehensive end-to-end solution from property intent to registration. Operating in Bengaluru, Settlin leverages a robust tech platform to simplify real estate transactions, incorporating automatic creation and execution of real estate sales, data analytics, and related services.
Sudhanshu, Co-founder of Settlin, stated, “We have grown 5x in the last 15 months since our pre-series A, and have proven our model. Settlin currently manages 12,000 unique buyers monthly and sells approximately 100 homes each month.”
Departing from traditional methods, Settlin employs a digitized process that streamlines the buying and selling of resale homes through assembly line automation. The company efficiently manages thousands of customers daily with an asset-light, scalable model, and uses a gig-greeter network for offline property visits.
With plans to sell 1,000 homes in CY2023 and expand operations to Mumbai within the next year, Settlin is poised for significant growth. Its innovative approach and recent funding success solidify its position as a disruptor in the Proptech landscape.
As Settlin continues its journey and raises growth capital, it is set to reshape the Indian real estate market with its unique, tech-driven solutions for both sellers and buyers.