Settlin Gets Rs.3 Crore in Angel Round
RE Tech Startup Settlin raises Rs.3 crore in its angel round of funding from GSF Accelerator and ah! Ventures Angel Platform.
Settlin.in is the first & only Full stack Resale Home Buying PropTech Platform. useers can search online within three times more options than anywhere else, visit offline via white collar gig economy greeters, and transact online. The company has achieve all of these in just four months.
Settlin is the largest player in Bangalore by a huge margin, while operating in just 1/5th of Bangalore with selective inventory. In Q3 FY 2020-2021, even amidst COVID, Settlin achieved its pre COVID tractions and is on the growth path. Since the past six months, it has been growing 10 percent month-on-month to reach a current ARR of Rs.2 crore and a GTV of Rs.120 crore.
The founders, Ashish and Sudhanshu have a perfect mix of real estate experience and technology expertise. Settlin is Ashish's second startup in the space and has hands-on experience of more than 300 property transactions across verticals. Sudhanshu is an IIT Kanpur graduate and has taken 2 projects from zero to one and beyond, the latest one being Autoninja (acquired by ICICI Lombard).
Sudhanshu & Ashish, co-founders of Settlin say, “Settlin is at break-even and organically growing, but we are very keen to grow 5x in the next 12 months with this fundraise. We will expand pan Bangalore and may be a couple of other cities as well.”
Zeeshan, Venture Partner, ah! Ventures says, “Prop tech still has untapped potential which is one of our reasons to back Settlin. We feel and believe that Settlin has a convincing business model and has shown resilience in operations even in challenging times. The technology stack and clean UI, along with a focus on a unique human enforced customer experience makes this start up very engaging. From ah! Ventures we reaffirm our commitment to helping promising startups scale and push the boundaries to deliver value. ”
“Housing is a key sector of Indian economy and it’s on a major rebound post COVID. We believe technology driven solutions will drive further recovery especially in the resale market. Settlin has a huge focus on technology and service; its founders have deep domain expertise and resilience. They will unlock the true potential of the housing sector”, says Rajesh Sawhney, founder of GSF Accelerator. ”