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Real Estate Group Buying Portal GrOffr Raises $1M From Indian Angel Network

GrOffr.com, a real estate group buying portal has secured under $1 million in a series-A funding round led by Indian Angel Network. According to the company, the funds will be partly used to expand its geographical presence to Delhi NCR, Kolkata, Ahmedabad and Indore, and to increase its current workforce to nearly 50 in the next one year, in addition to investing in brand building. The company presently offers deals in Mumbai, Pune, Bangalore, Hyderabad, Chennai, Kochi and Nagpur.

GrOffr offers time bound group offers in categories such as automobiles, real estate, electronics and others. The company offers a free membership to individual buyers as well as corporate buyers. It claims to have assisted over 100 customers buy gross assets valued at over Rs. 120 crore since its launch, providing them with savings of over Rs. 20 crore. GrOffr has also announced the launch of GrOffr Associate Programme (GAP) – a business expansion tool that allows customers and real estate agents to negotiate deals with the real estate developers by leveraging their relationships or the deal size, and join the GrOffr.com platform to look for a group of buyers. The GAP members will also be able to earn a part of profit on closures.

Earlier this year, Indian Angel Network had invested in Jigsee, a video streaming technology provider. The company has so far invested in 24 different companies including authorGEN Technologies, Druvaa, Eureka Technology, Hungryzone and others.

Related:

Updated: Group Buying Site MyDala Raises $2M From Info Edge; Launching Version 2
– Deal Sites Launched By MouthShut, IndyaRocks; Suggestions

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