Proptech startup PropertyPistol, which is into real estate advisory services, has raised Rs 45 crore from investors including ICICI Bank and Baring Private Equity Partners to expand its business.
Mumbai-based PropertyPistol was founded in 2012 by IIT alumni Ashish Narain Agarwal and later joined by Tushar Shrivastava as co-founder. It offers various tech solutions and advisory services to home buyers, real estate brokers and developers.
The company has raised Rs 45 crore in Series A funding led by ICICI Bank and Baring Private Equity Partners India.
It plans to utilise the fund to expand its leadership team across business functions and augment its presence in newer markets – both in India and abroad.
“This fund raise will help expand the company’s operations into newer geographies and yield significant business growth and value in the future,” Ashish Narain Agarwal, Founder and CEO, PropertyPistol, said.
The company will focus on new product development and also strengthen core verticals, such as the syndicate broker platform and project mandates. Varun Batra, Partner, Baring Private Equity Partners India, said, PropertyPistol has built a highly credible and profitable business with prudent capital deployment.
