Proptech startup Jugyah has raised $1.5 million in a funding round led by White Venture Capital, QED Investors, and Godrej Properties. The round also included participation from Whiteboard Capital, Singularity Ventures, and angel investors such as Cred founder Kunal Shah, Harsh Jain of Dream Sports, and Ramakant Sharma of Livspace.

With the new funds, the Mumbai-based company plans to expand its reach within the Mumbai Metropolitan Region and increase its market share. Founded in 2023 by Arshad Balwa and Ansuman Mohanty, Jugyah is a real estate brokerage platform that connects property buyers and tenants with sellers and landlords. The platform also offers additional services, including an in-house mortgage origination arm that provides financing options for its users.

Balwa, the cofounder of Jugyah, explained that to truly address the problems faced by home buyers and renters, they had to redesign the entire home sale and rental value chain from scratch. He noted that existing listing platforms are very superficial and only address the search and discovery process. The subsequent steps, such as visits, negotiations, transactions, and post-move-in experiences, remain offline and unstandardized. By integrating all five steps through a digital platform with a physical experience center and embedding a fintech layer to remove nuisances and add features such as legal assistance and loan financing, they realized they could create an affordable, 10x improved, phygitally enabled method of finding a home. The goal is to standardize real estate brokerage rather than offering it as a variable quality service.

On the Jugyah platform, all tenants must undergo an e-KYC procedure and credit assessment, helping landlords select credit-verified tenants for their properties. Buyers benefit from free seepage warranties, free legal support, and zero-commission mortgage pre-approval. Jugyah has established offline experience centers across South Mumbai and Navi Mumbai, where buyers, sellers, tenants, and landlords can receive assistance from Jugyah?s agents.

The company claims to be growing at over 50% month-over-month and expects to be cash-flow positive by the end of this year. Additionally, Jugyah noted that the size of the long-term rental and resale market in India is estimated to reach $300 billion by 2026, with the brokerage and property management market expected to hit $20 billion by the same year.

Sandeep Patil, head of Asia at QED Investors, expressed excitement about Jugyah?s vision to comprehensively solve the challenges faced by buyers, renters, landlords, and agents in today?s marketplace. He highlighted that Arshad and Ansuman bring insights, networks, and energy that can truly make a difference in the everyday lives of middle-class Indians in growing metropolises. He is eager to see what they will build.

Jugyah's major competitors include Nobroker, Property Guru, and Housing, among others.