Proptech firm Property Pistol has recently secured Rs 45 crore from investors, including ICICI Bank and Baring Private Equity Partners India, in Series A funding to expand its business and strengthen its core verticals.
Founded in 2012 by IIT alumni Ashish Narain Agarwal and later joined by Tushar Shrivastava, Property Pistol is a Mumbai-based company that offers real estate advisory services, tech solutions, and advisory services to home buyers, real estate brokers, and developers.
With this recent funding, the company plans to expand its leadership team across business functions and augment its presence in newer markets both in India and abroad. The funds will be used for new product development, as well as strengthening core verticals, such as the syndicate broker platform and project mandates.
Ashish Narain Agarwal, Founder, and CEO of Property Pistol said, “This fundraise will help expand the company’s operations into newer geographies and yield significant business growth and value in the future.”
Varun Batra, Partner, Baring Private Equity Partners India, praised Property Pistol for building a highly credible and profitable business with prudent capital deployment. He added that the investment will enable the next phase of growth with an increased focus on marketplace technology and distribution.
In conclusion, Property Pistol’s recent funding will not only expand its operations into newer geographies, but also yield significant business growth and value in the future. With the focus on new product development and strengthening core verticals, the proptech firm is well-positioned to further enhance its offerings and solidify its position as a leading player in the real estate industry.