Founded in 2020 by Shubhankar Dongre, Sandeep Reddy and Raja Seetharaman, ,Zapkey, which is India’s 1st Prop Tech Startup that helps its customers with guaranteed home sales, has secured $2 Million in seed funding this month. The round was led by Gruhas Proptech with participation from the DLF Family Office, Blume Founders Fund, the Alkem Labs Family, Aprameya Radhakrishna (Co-founder, Koo), Srini Sriniwasan (MD, Kotak Investment Advisors) and other individual investors.
Zapkey is India’s 1st Home Sale Guarantee platform with a unique model that provides its customers with guaranteed home sales within 3 months of the listing date, or they buy the property themselves. Their pricing is driven by proprietary algorithms which track 30 Lac+ property registration records, thereby ensuring a fair market price and transparency in sales.
The company’s vision is to become the one-stop online solution that aims to bring liquidity to the difficult resale home market by providing trust, transparency in pricing, and the best home selling experience to its customers. Zapkey started by providing easy online access to publicly available, authentic home registration data; thereby empowering its customers to make smart and informed decisions.
“We have seen this model play out in the cars space with Cars24, Spinny and others. Globally, giant funded start-ups like Opendoor and Loft have demonstrated this in resale homes. The problem and the solution are clear, present, and inevitable. We intend to use this funding to strengthen our technology and operations teams. Our initial program has been launched in Thane (Mumbai) and we aim to close deals on over a hundred apartments in the next 3-4 months, supported by a credit line" said Shubhankar, co-founder of Zapkey.
“The resale home space is over a USD 50bn market. The sheer scale that this market presents is an incredible opportunity. We believe Zapkey has the perfect team and motivation to take advantage of this opportunity and we have full conviction in backing them” added Abhijeet Pai, partner at Gruhas Proptech.
“Over 300,000 resale homes exchange hands in the top 7 cities annually. Technology is enabling fantastic experiences in every trade around us. I’m excited to be partnering with Zapkey on this opportunity” echoed Rahul Talwar of the DLF Family Office.
