Proptech Startup Zapkey Raises USD 2 million In Its Seed Round Led by Gruhas Proptech

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Proptech startup Zapkey has raised $2 Million in its seed round led by Gruhas Proptech with participation from the DLF Family Office, Blume Founders Fund, the Alkem Labs Family, Aprameya Radhakrishna (Co-founder, Koo), Srini Sriniwasan (MD, Kotak Investment Advisors) and other individual investors.

Zapkey is the country’s first home sale guarantee platform with a model that provides its customers with guaranteed home sales within 3 months of the listing date, or they buy the property themselves. The pricing will be driven by proprietary algorithms which track over 3 million property registration records, thereby ensuring a fair market price and transparency in sales.

“We have seen this model play out in the cars space with Cars24, Spinny and others. Globally, giant funded start-ups like Opendoor and Loft have demonstrated this in resale homes. The problem and the solution are clear, present, and inevitable,” said Shubhankar Dongre, co-founder of Zapkey.

According to him, the company intends to utilise this funding to strengthen its technology and operations teams. It has already started its initial program in the property market of Thane near Mumbai and aims to close deals on over a hundred apartments in the next 3-4 months, supported by a credit line.

Also, Read This: Real Estate Giant Hiranandani Group To Invest Rs 3,500 crores In Its New Venture Tez Platforms

“The resale home space is over a $50 billion market. The sheer scale that this market presents is an incredible opportunity. We believe Zapkey has the perfect team and motivation to take advantage of this opportunity and we have full conviction in backing them,” said Abhijeet Pai, partner at Gruhas Proptech.

Founded in 2020 by Shubhankar Dongre, Sandeep Reddy and Raja Seetharaman, Zapkey aims to become the one-stop online solution that aims to bring liquidity to the difficult resale home market with trust, transparency in pricing, and the best home selling experience to customers.

“Over 300,000 resale homes exchange hands in the top 7 cities annually. Technology is enabling fantastic experiences in every trade around us. I’m excited to be partnering with Zapkey on this opportunity,” said Rahul Talwar of the DLF Family Office.

Also, Read This: Proptech startup POPTSCAN Realty Bags USD 2 Mn From Canada-based MRW Ventures and Riar Holdings

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