Clicbricks Raises $3 mn from US & Canadian PEs

Clicbrics, India’s leading technology platform empowering the real estate sector, announced  on Wednesday that it has successfully raised funding of around $3 mn from a stellar consortium of international and domestic investors led by former Tiger Management Lieutenant Manny Singh of Kavi Fund; New York, Peter Mann, Fund Manager at Gluskin Sheff, Canada along with a Senior Managing Director of one of the largest Canadian pension funds and several high profile private investors from USA and Canada. The funds will be used to fuel Clicbrics’ expansion and growth in the Indian market. Clicbrics, currently headquartered in Delhi, will continue to focus on Tier 1 and Tier 2 cities targeting the real estate markets in a bid to organize the sector.

 

The new investment round will enable Clicbrics to further capitalize on its position as a leader in the real estate technology industry in India. Clicbrics is a fast-growing company providing digital solutions for the real estate segment, focused on providing a transparent and satisfying experience for consumers. A digital market place for real estate, Clicbrics brings sellers and customers on a common platform and empowers decision making by enabling them to interact and maintain a complete transparent journey.

 

Announcing the deal, Mr. Rohit Malik, Founder & CEO, Clicbrics, said that in the last few years, technology has completely changed the way India moves from point A to B, makes payments, shops groceries and even orders food. Digitalization has managed to organize these sectors to a large extent. Real estate, on the other hand is still in its nascent stage, despite having web presence for some time. Clicbrics is an online real estate marketplace aimed to change the experience of consumers and developers alike. Real estate has tremendous opportunities in India, especially after RERA, and their unique technology platform creates a win-win situation for both buyers and sellers, he said. 

The company aims to streamline and harmonize the $4.5 billion real estate brokerage market in India with an Asset Light Model. Interestingly, the Clicbrics team has top professionals from all segments of real estate, for example, online real estate, real estate private equity, developers and builders, as well as local experts from real estate brokerage and consultancy services, as its members.

Speaking about the business, Manny Singh, Founder of Kavi Asset Management and former Lieutenant at Tiger Management, said that the SaaSification of businesses is one of the most transformative secular trends in technology today, playing out globally across many different verticals. Clicbrics is the first and only company in India that is SaaSifying the real estate vertical, which is a very large and fragmented market with tremendous white space ahead. The Clicbrics team has both the real estate experience and the technical vision to win against incumbent players. By bringing brokers, customers, lenders and developers together on one secure platform, Clicbrics is effectively developing a new software ecosystem for how real estate transactions are processed in India, he said.

Technology is a key area of focus for Clicbrics which will enable further growth for the company. Powered by AI, the platform is capable of targeting home buyers according to their search parameters, be it size, location or budgets. The platform takes a data-driven approach to select genuine homebuyers and builders. Clicbrics also enhances the user experience by providing complete knowledge of the property before sales.