Real estate Digital Amenities provider Reloy announced it has raised Rs. 5 crore in a strategic pre-Series A round led by Inflection Point Ventures, Fawkes Fund, family office of Greenpanel & Greenlam, and 50+ prominent angels. The funds raised will be used for expanding operations and fine tuning the product for a commercial launch.
Started in 2018, Reloy has been working closely with the largest builders and has influenced over Rs 700 crore sales in the real estate industry with clients like Sharpoorji Pallonji, Godrej Properties, Mahindra Lifespaces, Piramal Realty, Gera K Raheja, Birla Estates and Century Real Estate. The company expects to generate sales worth Rs 5,000 crore of sales for its current clients in the coming financial year.
“Residential housing sales are going through a huge growth cycle and Reloy through its partnership with the leading real estate developers is uniquely placed to benefit from this cycle. On one hand it can help builders generate relatively cheaper referral sales (vs real estate agent sales) and on the other it can improve Buyers’ overall experience with the brand and further fuel referral sales creating a positive network effect. At scale, Reloy will also be building a strong downstream demand aggregation model (for consumer goods, interior services, lifestyle businesses etc) that has the potential to become the largest business model of its kind in the country,” said Ankur Mittal, co-founder, Inflection Point Ventures.