NEW DELHI, Nov 19: HeyPillow, an online real estate marketplace, has garnered USD 3 million (about Rs 20 crore) in ‘Series A’ fund-raising from Hampton Capital.
The company intends to use the funds for business expansion.
Co-founded in 2014 by San Francisco-based Stan Dong, a former research scientist at Stanford University in California, the company aims to compete with existing online real-estate models like Magic Bricks, 99 acres, and Housing.Com.
“The country’s real-estate market is set to grow at 30 per cent over the next decade, reaching USD 180 billion by 2020, while the housing finance market sits at USD 9.7 trillion,” Stan said.
Speaking about the choice of market, he said, “India was our first choice for the market’s sheer potential. We do not just list residential and commercial properties, but are also a marketplace for home loans and mortgages.”
“HeyPillow also provide tools like mortgage calculators, and useful guides on real-estate purchase and market trend analysis,” he added.
The platform, which is currently available in Bengaluru, Pune, Mumbai and Delhi-NCR, has already garnered more than 15,000 commercial and residential listings. (PTI)
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