Proptech startup Settlin raised $1 million from investors for its growth

The company mentioned in a statement, it has raised about Rs. 7.7 crores in a pre-series A round from Powerhouse Ventures, Dinesh Agrawal (founder and CEO, IndiaMart), angle investor Murugavel Janakiraman (Founder and CEO of Bharat Matrimony) and Rajesh Sawhney (founded-GSF Fund) and others.

NEW DELHI: Proptech firm Settlin raised 1 million USD for expansion and growth. Settlin is planning to expand its presence in Bengaluru and also digitization of its further operations.

Settlin is into brokerage for resale homes, it provides doorstep execution of residential property resale transactions. It manages the entire translation which includes legal verification too, it maintains and physically inspects the property.

Settlin recently launched its app named Settlin on the google play store.

Settlin shared “plans to use the new funds for expanding within Bengaluru, and fortifying their consumer-tech platform.”

The company’s statement mentioned that it aims to finish 24,000 visits in Bengaluru, in the upcoming 12 months which will lead to over 800 property sales worth over Rs. 600 crores.

“The residential resale market is three times that of new sale, and holds the key to truly organise the entire real estate transactions industry, forever. This ever growing sector remains unorganised and complex to crack because of its multiple moving parts.” commented Ashish Srivastava, Co-Founder and CEO, of Settlin.

According to housing.com proptech industry in India attracted over USD 551 million in 2020 and in 2019 USD 549 million.

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