E-commerce major Flipkart's co-founders Sachin Bansal and Binny Bansal, along with some other investors, have invested $3,50,000 in real estate start-up 'Plabro Networks'.
The Gurgaon-based start-up has recently launched a mobile application 'Plabro' to connect property brokers and help them in closing the deals quickly. As of now, the app has been launched in Gurgaon and Noida and the company has plans to take this platform to other cities.
"In first round of funding, we have raised $3,50,000 (about Rs 2.3 crore) from a clutch of investors including Flipkart co-founders Sachin Bansal and Binny Bansal," Plabro Networks co-founder Pankaj Garg told reporters. Flipkart co-founders have invested in their personal capacity, he added.
The funds would be used to create a stronger networking ecosystem and expansion. "Plabro Networks has the promise of changing the real estate landscape with its innovative ideas. I am sure that real estate agents, who are an inherent stakeholders in the real estate sector, will benefit tremendously from the application," Binny Bansal and Sachin Bansal were quoted as saying in a statement.
Plabro's co-founder Aaditya Jain said the free mobile app was currently being used by about 3,000 brokers in Gurgaon and Noida. "By sharing the inventories and requirements with other real estate brokers, one increases the reach manifolds. This helps in closing the deals faster, expanding the business horizon beyond geographical limitations," he said. Jain said the company was in the process of adding data analytics and business insights that will support the knowledge base of customers.