Brigade REAP Invests in Settlin

25 Nov 2024 CW Team

Brigade REAP, India’s first proptech accelerator, has announced an investment in Settlin, India’s first gig-based residential resale broker. This investment is part of a larger $500,000 funding round, which includes contributions from other investors.

Settlin, a rapidly growing startup in Bengaluru, has gained significant traction with its data-driven approach and gig-enabled workforce, enabling it to execute resale transactions at unmatched scale and speed. The company has already sold nearly 1000 homes with a gross transactional value of approximately Rs 900 crore, averaging the sale of three homes daily.

This success is driven by Settlin’s proprietary tech stack and app-only model, eliminating the need for traditional brokers and ensuring frictionless transactions between buyers and sellers.

Abhay Garg, Head of Brigade REAP, highlighted that this is the accelerator's third investment this year, with plans to make eight to ten investments annually in early-stage startups addressing challenges in the real estate industry. He emphasized that Settlin’s automated solution for the resale market aligns with Brigade REAP’s goal to foster innovation-led growth within India’s proptech ecosystem.

Settlin has experienced 10x growth in the past two years, revolutionizing India’s residential resale market by eliminating brokers and offering a seamless app interface for fast, automated transactions.

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