Avendus Capital Advises housing.com on Its $90 mn Fund Raise Led by Softbank Group.
Locon Solutions Pvt. Ltd. (known as Housing.com) and SoftBank Internet and Media, Inc. (“SIMI”) today announced a definitive agreement under which the SoftBank Group will lead an investment of $90 million in Housing.com, along with participation from existing investors Falcon Edge, Nexus Venture Partners, DST (partners’ fund), Qualcomm Ventures & others. Housing.com has now raised more than $ 121 million in just 2 years.
Housing.com will use the funds to map over 40 million houses across 300 cities in India and provide OnOff buttons to home owners and agents, to reactivate their assets on Housing.com once they’re available in the market. Through this partnership with Housing.com, SoftBank aims to further invest in the digital infrastructure of India and build synergies with its network of Internet companies in India and around the world.
Avendus Capital was the exclusive financial advisor to Housing.com in this transaction, which is the largest transaction by a PE fund in the Indian Digital Real Estate Classifieds space.
About SoftBank Group | Housing.com
The SoftBank Group comprises SoftBank Corp. (TSE:9984) and its subsidiaries and associates that offer a comprehensive range of advanced mobile communications, fixed-line communications and Internet services around the world. With Sprint joining in July 2013, the SoftBank Group became a leading global carrier that now has over 100 million subscribers. Maximizing synergies across its Group companies worldwide, SoftBank aspires to realize lifestyle innovation through IT. The SoftBank Group is also encouraging the adoption of clean and safe energy through its business activities.
Housing.com, founded in 2012, has revolutionized the online real estate industry in India by leveraging its industry leading technology and product focus to provide consumers with a premium experience during their property search. Housing.com is a disruptor of the online real estate industry through its verified listings guarantee, providing HD photos and 100+ data points on all properties mapped on the platform. Housing.com operates in over 45 cities, with over 350,000 verified listings and more than 15,000 New Projects, the highest in the market. Housing now has more than 1,500 employees in over 45 cities across India.
Equity Capital Markets
USD 197 mn
Digital, Technology & Consumer
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