PropReturns gets $1.2 mn from Goodwater Capital, others

22 Dec 2021 CW Team

Real estate platform PropReturns has raised $ 1.2 million in funding from a group of notable investors, including Y Combinator, Goodwater Capital, and Soma Capital from the United States.

Investors can buy pre-leased commercial properties all over India through the company.

PropReturns, founded by Kenish Shah, Jayant Panwar, and Somit Mathur in mid-2021, now has over 450 pre-leased properties.

The funds will be used to expand into new cities and broaden the asset classes available in the company's marketplace, according to the company. The company also stated that it intends to scale and grow transactions, as well as educate and onboard more property investors and sellers to the platform.

Propreturns Real Estate Technology Private Limited, founded in 2021 by BITS Pilani graduates Kenish Shah, Jayant Panwar, and Somil Mathur uses Artificial Intelligence (AI)-based algorithms and a proprietary database to make the process of investing in commercial real estate easier.

The platform provides an option for those looking to sell their currently rented commercial properties. They can use PropReturn's website to list their properties. PropReturns claims to serve over 4,000 investors, wealth managers, and real estate funds across India who want to invest in rent-generating commercial properties.

Lumos Alternate Investment Advisors Private Limited and Gruhas Proptech LLP joined forces to raise a Rs 500 million real estate fund in November.

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