Proptech startup PropShare raises $47 million led by WestBridge Capital

Proptech startup PropShare has secured Rs 367 crore ($47 million) in funding led by WestBridge Capital, with participation from existing investors Pravega Ventures.

The real estate investment platform will use the capital to scale its platform across geographies and real-estate asset classes by expanding distribution channels and investing in technology and people.

“By partnering with WestBridge Capital, we plan to grow to over $1 billion in transacted assets on the platform by expanding into new geographies and property types while keeping technology and our investors at the core of our offerings,” Hashim Khan, cofounder & chief technology officer (CTO), PropShare said.

The company will also focus on utilising technology to improve platform-user experiences for the customers by increasing liquidity, adding more product lines, and bolstering investor relations.

“We are very excited to partner with Kunal [Moktan] and Hashim [Khan] who come with significant experience in institutional real estate investing and technology. PropShare has scaled to $125 million+ in AUM with high capital efficiency, and has already achieved profitability,” said Deepak Ramineedi, partner at WestBridge Capital.

Founded in 2016, PropShare is a technology-driven real estate investment platform that enables investors to purchase commercial real estate assets.