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Prop-tech startup Zaasna receives seed money from global investors

Prop-tech startup Zaasna receives seed money from global investors
Photo Credit: Photo Credit: Thinkstock
31 May, 2019

Bengaluru-based startup Zaasna Proptech Pvt. Ltd on Friday said it has raised seed funding worth Rs 2 crore ($290,000 at current exchange rate) from global investors in Singapore, West Asia and the US.

The company, which did not reveal the names of investors, plans to strengthen its tech platform to provide enhanced services to its consumers and grow its team, the firm’s statement said.

Founded in 2018 by Arvind Kadam and Amit Tyagi, Zaasna offers a platform for home buyers where they can search all listed properties, select the property and house, schedule a site visit, make payments online, digitally sign documents and apply for a home loan.

An IIM-Bangalore graduate, Kadam had earlier worked with Infosys and founded an online e-commerce startup for home interiors and furniture called ABEsquare Furnish Pvt Ltd. Tyagi is a graduate from Netaji Subhas Institute of Technology, having worked with companies such as Bengaluru-based Sasken Communication Technologies Ltd.

“This is a massive milestone for us as a company and we are extremely happy that global investors have shown trust in us. Today’s India is looking towards online services for convenience and safety and we aim to provide just that while they want to buy a piece of real estate,” said Kadam, chief executive officer at Zaasna.

Zaasna recently partnered Zippserve, Switchme and NestAway, to increase its bouquet of services to home buyers and hosted an online plot fest in Bengaluru.

Developments in space:

January 2019: Hyderabad-based real estate developer Meenakshi Group launched its debut fund of $10 million to invest in property-tech startups. The fund picked up a six percent stake in Hyderabad based co-working startup iKeva Ltd for an undisclosed amount.

December 2018: Archer Technologies Pvt. Ltd, which owns tech-enabled property startup BuildSupply, raised $3.5 million (around Rs 25 crore at current exchange rates) in a Series A round of funding led by investment firm Venture Highway.