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December 16, 2014

Housing.com raises $90m from Softbank

Website plans to use the money to expand its operations across India.

By CBR Staff Writer

Softbank has entered into a definitive agreement with Locon Solutions, the company behind Housing.com, to provide $90m in funding.

Softbank will be joined by Falcon Edge and other undisclosed investors to invest in the Indian company, which has already raised more than $121m in the past 2 years.

With the investment Softbank has become the largest stake holder in Housing.com.

Housing.com is planning to use the funding to map over 40 million houses across 300 cities in India.

The website also launched "Slice View", the world’s first interactive home booking platform which marketed more than half of the inventory within the first five days of operation.

Housing.com co-founder Advitiya Sharma said: "Ever since we started the company we had a huge vision, to help millions of people struggling to find Real Estate that meets their requirements perfectly."

"We’ve put in all our focus into building great products and mapping every single house in the country, on the platform. In our journey we have been fortunate to have found great partners in our investors, and the whole team is excited to work with SoftBank and achieve this vision together."

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The Japanese telecom giant previously invested $210m in India based Uber like service called Ola.

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