Reloy, a homeowner loyalty and referral platform for builders raised INR 7.2 Crore in a pre-series A2 funding round earlier this quarter. The investment will be used to fuel the company’s growth and expansion plans, as it seeks to create a better future for the real estate industry.
The funding round was led by four investors from the previous round along with several other prominent angels. It had raised Rs. 5.9 Crore last February. The current round saw participation from all the existing investors and had incoming investors of BlueLotus VC, Dream Green Capital and several prominent angels.
Reloy is a unique, RERA-compliant, business model because it is built on revenues from homeowners’ love for real estate builders. Referral sales can only originate from happy homeowners, incentivizing builders to treat their homeowners better.
“India is now the world’s most populated nation with only the 7th largest land mass. We need our builders to create the largest cities the world has ever seen. It’s time we empowered good builders with our referrals. Our solution streamlines the post-purchase journey that homeowners have with builders and rewards them with benefits across ancillary requirements of home interiors and home finance.” said Akhil Saraf, Founder & CEO of Reloy.
The platform manages over 1.4 Lakh apartments coming up for possession, valued at Rs. 1.3 Lakh Cr+. Its clientele includes national partnerships with some of the biggest names in the industry, such as Godrej Properties, DLF, M3M, Shapoorji Pallonji Real Estate, Kolte Patil, Embassy Residential, Mahindra Lifespaces, K Raheja Corp, Brigade, Piramal, Rohan Builders, L&T Realty, Arvind Smartspaces, Smartworld, JP Infra, BPTP, Purti Realty to name a few.
“We love how deeply he has thought through business-building and value-capture & how Reloy has already created strong network effects. The App Store is one of the best business models we’ve seen in the last 15 years and Reloy is building the Android of real estate", said UdayArya, Co-founder at BlueLotus Ventures.
Reloy helps homeowners to ease out document management, construction tracking, payments and tickets but also creates a marketplace for other connected needs of home interiors and home finance.
The company’s success has been built on using technology to reorganize real estate developers to be homeowner centric. They address the builder-buyer relationship and serve the connected needs that come with buying a house. With this funding, Reloy will be able to accelerate its growth plans and establish itself as the default housing operating system that consumers can come to expect with their homes.
