PropertyPistol, a fundraising of INR 45 crores in Series A funding led by ICICI Bank and Baring Private Equity Partners India, to fuel the company's growth and expansion plans further.
The company plans to utilize the investment to expand its leadership team across business functions and augment its presence in newer markets – both in India and abroad. The company has ambitious growth plans for new product development and strengthening core verticals, such as the Syndicate Broker Platform and Project Mandates, in line with the strategic roadmap and business objectives. PropertyPistol will also continue to invest in innovative, tech-oriented solutions, and this investment will boost the company’s efforts towards it.
PropertyPistol provides professional assistance to homebuyers and helps them find their desired homes as quickly as possible. The company also focuses on building a robust network of channel partners by providing them complete support to augment their businesses in multiple ways.
Commenting on the development, Ashish Narain Agarwal, Founder & CEO, PropertyPistol said, “It's truly an honor to be funded by some of the most well-known investors including ICICI Bank and Baring Private Equity Partners India. PropertyPistol has been contributing significantly to the real estate sector and has become a crucial element in the ecosystem. Association with ICICI Bank, one of the leading private sector lenders, will go a long way in deepening relationships with all stakeholders in the real estate ecosystem. This fundraiser will help expand the company's operations into newer geographies and yield significant business growth and value in the future. Additionally, it will open up several opportunistic avenues for the company and we are eager to embrace what lies ahead. I am sure this development will motivate every member of PropertyPistol and further ignite their zeal and enthusiasm to do better in the business.”
Sharing thoughts on this investment, Varun Batra, Partner, Baring Private Equity Partners India said, “PropertyPistol has built a highly credible and profitable business with prudent capital deployment. Given the current stage of the Residential Real Estate Cycle and the leadership’s articulated vision, Baring India's investment will enable the next phase of PropertyPistol’s growth with an increased focus on marketplace technology and distribution. We look forward to partnering with the PropertyPistol team on this journey.”
