Housing.com founder Rahul Yadav led 4B Networks Pvt. Ltd, which runs the startup’s brokerage network, raised Rs 90 crore through its existing exclusive backer InfoEdge. Noida-based InfoEdge has invested in the proptech startup through its subsidiary Allcheckdeals India. 4B Networks has offered 1,913 compulsorily convertible preference shares to Allsecdeals India at an issue price of Rs 470,465 per share, according to the latest regulatory filing. After the transaction, Allcheckdeals will hold a 59.80% stake in the Indian brokerage chain.
News portal Entracker was the first to report on the development. The brokerage network plans to use this capital for the development and growth of the company.
Founded by Yadav in 2020, Broker Network operates online and software-based platforms to connect developers and brokers to do business. This startup has partnered with Adani Real Estate, Shapoorji Balonji Real Estate, Raymond Real Estate and Kohnoor Group among others. According to the company’s website, it has registered more than 1 million brokers and listed more than 1,000 schemes. The platform allows users to list their properties and offer mortgage-related services such as mortgages to customers. So far, the startup has disbursed Rs 4,000 crore in home loans through banks and non-bank financial institutions. Prior to Broker Network, Yadav co-founded SoftBank-backed Housing.com. He left the startup in 2015 due to a dispute between the company’s investors. In 2017, Proptech startup merged with PropTiger. He spent four years with Anarock Technology, a real estate technology company. Among the recent investments, InfoEdge, the sole backer of the brokerage network, invested Rs 227 crore in multiple segments of the startup. Earlier, the startup earned nearly Rs 137 crore through AllSectdeals.