- Real Estate investment startup PropShare has raised $47 Mn from WestBridge Capital and Pravega Ventures.
- With PropShare, retail investors can invest in institutional-grade assets with rents in place that yield 8-10% and returns of 17-20%.
- PropShare has facilitated a total of INR 1,000 Cr in assets through the platform.
Real Estate investment startup PropShare has raised $47 Mn from WestBridge Capital and Pravega Ventures.
The Bengaluru-based startup was founded by Kunal Moktan and Hashim Khan in 2016.
With PropShare, retail investors can invest in institutional-grade assets with rents in place that yield 8-10% and returns of 17-20%. Commercial real estate owners can own, manage, and exit their properties and businesses with the platform’s assistance in sourcing, due diligence, property management, and sale processes.
PropShare plans to use the proceeds to expand distribution channels and invest in technology and people to scale the platform across geographies and real estate asset classes. By improving liquidity, introducing new product lines and strengthening investor relationships, the startup will also enhance the consumer experience.
Until now, PropShare has facilitated a total of INR 1,000 Cr in assets through the platform. It plans to expand to new geographies and property types through a partnership with WestBridge Capital to reach over $1 Bn in transacted assets.
The PropShare platform allows retail investors to view properties, make fractional investments and receive rental income directly into their bank accounts. On PropShare, users can monitor their portfolios and even sell their holdings. Currently, users can invest in Bengaluru, Mumbai, Chennai, Hyderabad, Pune, and some parts of the United Kingdom through the property investment platform.
In addition to properties, it contains price stabilization funds (minimum investment value), yield return and target return rates, diligence notes, and investment criteria. PropShare competes in a $100 Bn market with companies such as Strata and NestAway, contributing close to 5-7% of India’s GDP.
The Real Estate Startup has $125 Mn+ assets under its management. ProShare Capital, the AIF arm of the proptech startup, previously raised INR 700 Cr in its maiden real estate fund called PropShare Real Estate Fund I (PREF I).
PREF I is invested in commercial property in India’s tech hubs, which generates income from leased space to multinationals and blue-chip tenants. An estimated 17 to 20% IRR is projected over a 4-5 year hold period for Grade A commercial properties offering 7 to 9% annual rental returns.
PropertyShark Capital has over 100 investors with an AUM of $35 million, including Pravega Ventures, BEENEXT and Lightspeed Ventures.
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