PropShare has raised funding of Rs 367 crore led by WestBridge Capital. The funding will be used to extend the proptech startup’s platform across regions and real-estate asset classes by increasing distribution channels and investing in technology and people.
PropShare, a real estate investing platform, has raised Rs 367 crore ($47 million) in fundraising led by WestBridge Capital, with participation from previous investors Pravega Ventures. PropShare, which was founded in 2016, is a technology-driven real estate investing platform that allows investors to acquire commercial real estate assets.
The funds will be used to extend the startup’s platform across regions and real-estate asset classes by increasing distribution channels and investing in technology and people.
Hashim Khan, PropShare’s cofounder and chief technology officer (CTO), said, “By working with WestBridge Capital, we want to grow to more than $1 billion in transacted assets on the platform by expanding into new locations and property kinds while maintaining technology and our investors at the center of our services.”
The firm will also concentrate on using technology to improve platform-user experiences for clients by expanding liquidity, launching new product lines, and strengthening investor connections.
Deepak Ramineedi, partner at WestBridge Capital, said, “”We are excited to be collaborating with Kunal [Moktan] and Hashim [Khan], who both have substantial experience in institutional real estate investing and technology. PropShare has grown to over $125 million in AUM and is currently profitable due to its remarkable capital efficiency.”