PropReturns Secures $1.2Mn from Y Combinator and others
PropReturns, an Indian Real Estate investment platform, has raised a funding of USD 1.2 million from a group of marquee investors including US-based Y Combinator, GoodWater Capital and Soma Capital.
PropReturns is a Real Estate investment platform that enables investors to purchase rent-yielding commercial properties across India. Investors can buy these assets with the assistance of detailed financial analysis based on market trends. Kenish Shah, Co-founder, PropReturns says, “We use cutting-edge algorithms to generate detailed financials of relevant properties in the selected locations."
PropReturns, which launched in mid-2021, is being used by over 4,000 investors, wealth managers, and real estate funds to invest into rent-generating commercial properties across India. PropReturns has more than 450 ‘pre-leased’ properties to offer to its investors, listed by over 500+ commercial property landlords, real estate developers, channel partners and institutions.
Investors can buy ‘pre-leased’ commercial properties from several cities across India from PropReturns. Since they are already rented out (pre-leased) to an establishment, investors do not have to look for a tenant and can start earning a steady income as soon as they take ownership of the property. PropReturns is the largest platform in the pre-leased commercial property investment segment. That said, PropReturns plans to augment the pre-leased property listing to establish more real estate assets for investment purpose.
PropReturns plans to scale and grow transactions on its platform to eventually create the largest real estate investment ecosystem in India. Speaking on the market opportunity, Kenish said, “We aim to solve an aspect of the real estate market that has not been addressed yet. Property investors are prone to making decisions based on speculation, gut instincts, and emotions. This problem is compounded by the lack of trust, reliable data and transparency that plagues the Indian real estate business.”
Building relationships with clients, by providing them all the supplementary services to create an end-to-end and hassle-free property investment experience, are the other aspects of services provided by PropReturns.
PropReturns’ Real Estate investment platform provides an attractive option for those looking to sell their commercial properties which are currently on rent. Instead of going the traditional way of advertising in classified ads and word-of-mouth marketing, they can list their properties on PropReturns.com for free in a couple of minutes. PropReturns takes 24-48 hours to verify the property and generate a financial model based on the landlord/broker inputs before listing it on its website.