Prop tech startup Zapkey which assists its customers with guaranteed home sales has raised $2 million in a funding round directed by Nikhil Kamath and Abhijeet Pai-backed Gruhas Proptech.
The seed funding round additionally witnessed participation from Blume Founders Fund, the DLF Family Office, Aprameya Radhakrishna, the Alkem Labs Family, co-founder of Koo, Srini Sriniwasan, MD at Kotak Investment Advisors, and other individual investors, as per a statement on Wednesday. They aim to utilise this funding to boost their technology and operations teams.Their initial program has been rolled out in Thane (Mumbai), and they plan to close contracts on over a hundred flats in the coming 3-4 months, backed by a credit line, as per Shubhankar, co-founder of Zapkey. Established in 2020, by Shubhankar Dongre, Sandeep Reddy and Raja Seetharaman, Zapkey has a unique model that renders its customers with guaranteed home sales within three months of the registration date, or they buy the property themselves. Its pricing is conducted by proprietary algorithms which track more than 30 lakh property registration records, thereby guaranteeing a fair market cost and transparency in sales. The firm's idea is to become the one-stop online solution that strives to bring liquidity to the difficult resale home market by rendering trust, transparency in pricing, and the best home selling experience to its customers. The resale home space is more than a $50 billion market. The sheer scale that this market offers is an incredible chance. They consider Zapkey to have the perfect team and motivation to take advantage of this opportunity, and they have complete conviction in backing them, as per Abhijeet Pai, partner at Gruhas Proptech. Image Source
