Prior to this, the startup had raised $2 million in seed funding in February 2022. This earlier round was led by Gruhas Proptech with participation from the DLF Family Office, Blume Founders Fund, the Alkem Labs Family, Koo cofounder Aprameya Radhakrishna, Srini Sriniwasan, MD, Kotak Investment Advisors, and other individual investors.
Zapkey plans to utilise the funding to support its geographical expansion and strengthen its technology.
“The pedigree of the founders of Zapkey gave us maximum confidence to invest. Add to that the size of the total addressable market and the product market fit they have achieved over the past year checked all our boxes,” said Shuchi Kothari of DSP.
Founded by Shubhankar Dongre, Sandeep Reddy and Raja Seetharaman in 2020, Zapkey is a home sale guarantee platform that claims to provide its customers with guaranteed home sales within three months of the listing date.
“We couldn’t be more excited to have DSP join our cap table. Easily one of the most powerful names in Indian finance, their access, and support will only help compound our growth as we open new markets,” said Shubhankar Dongre.
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The startup says that the pricing on its platform is driven by proprietary algorithms which track over 1 crore property registration records, thereby claiming to ensure a fair market price and transparency in sales. Over the past year, Zapkey has attracted over 8,000 home sellers to its platform and engages over 2,500 local brokers as part of its distribution network.Zapkey also introduced a first-of-its-kind homebuyer value proposition last year. It also began offering ready-to-move-in homes with no GST, pre-verified ownership documents, instant site visits, pre-negotiated home prices, and a 30-day buyback guarantee if any home buyer runs into any predefined issues with a home bought through the platform.
