Propdial Raises another INR 1 Cr as part of convertible debenture round
New Delhi, March 8: Propdial, a Gurgaon-based Property Management Startup that helps NRIs and Indians living in other cities manage properties from a distance, has raised a top-up of INR 1 CR in CCD round funding. This top-up is a part of the funding round to which Propdial raised INR 1 CR last November. Before this, the company had also raised seed funding last year.
The funding will be used to scale Propdial’s domestic business and augment its geographical reach further across India. The investment will scale Propdial’s Sales and Operation functions alongside improving the tech stack.
“With this top-up, we are closing CCD round and focusing more on the next milestone of scaling our business while preparing for Series-A fundraise in mid-2022”, said Mr. Vinay Prajapati, Co-Founder and CEO, Propdial.
“To further ignite growth and capture a large market opportunity, we are looking to strengthen our middle & senior management layer along with onboarding Industry veterans as part of the advisory team,” adds Mr. Gopal Mishra, Co-Founder and COO, Propdial.
Propdial pivoted into the property management service space in 2017, offering property management as a service that helps property owners remotely manage real estate in India. Within a short period, it has expanded operations across 8 States and 20 Cities in India while counting a customer base from 50 plus countries.
Propdial is a trusted property management service partner to multiple big players in the ecosystem, quickly scaling and positioning it as a category leader of the fast-evolving property management service segment.