Reloy Raises INR 7.2 Crore In Pre-Series A2 FundingWith this funding, Reloy will be able to accelerate its growth plans and establish itself as the default housing operating system that consumers can come to expect with their homes, as per the company
ByTeena Jose•
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Reloy, a homeowner loyalty and referral platform for builders, has raised INR 7.2 crore in a pre-Series A2 funding round earlier this quarter. The current funding round saw participation from all the existing investors and had incoming investors of BlueLotus VC, Dream Green Capital and angels. The investment will be used to fuel the company's growth and expansion plans, as it claims that it seeks to create a better future for the real estate industry.
"India is now the world's most populated nation with only the 7thlargest land mass. We need our builders to create the largest cities the world has ever seen. It's time we empowered good builders with our referrals. Our solution streamlines the post-purchase journey that homeowners have with builders and rewards them with benefits across ancillary requirements of home interiors and home finance," said Akhil Saraf, founder and CEO, Reloy.
Reloy helps homeowners to ease out document management, construction tracking, payments and tickets but also creates a marketplace for other connected needs of home interiors and home finance. The company claims that it manages over 1.4 lakh apartments coming up for possession, valued at more than INR 1.3 lakh crore. Also, it said that with this funding, Reloy will be able to accelerate its growth plans and establish itself as the default housing operating system that consumers can come to expect with their homes.
"We love how deeply he has thought through business-building and value-capture and how Reloy has already created strong network effects. The App Store is one of the best business models we've seen in the last 15 years and Reloy is building the Android of real estate," said UdayArya, co-founder, BlueLotus Ventures.
Founded in 2015 by Akhil Saraf, Reloy is a B2B2C homeowner and broker management platform that helps builders manage their home owners and brokers more efficiently.
