PropTech Firm Crib Raises Rs 15 Cr In Seed Funding
Crib, a proptech startup, has raised $1.82 million (Rs 15 crore) in a seed funding round co-led by We Founder Circle and Rebright Partners.
Angel investors, including Kunal Shah (Cred), Ghazal Alagh (Mamaearth), Vijay Shekhar Sharma (PayTM), Ramakant Sharma (Livspace), Sandeep Aggarwal (Droom, ShopClues), Ravi Bhushan (BrightChamps, Housing), Ankur Aggarwal (Dunzo) along with various angel syndicates and funds like FAAD Network, Rogue Opportunities, Imperier Holdings, Sigurd Ventures, Beej Network, Dream Green Capital Venture, Supermorpheus Fund, etc., also participated in the funding round.
As per the startup, the freshly raised funds will be used to expand its product offerings and scale distribution to major pin codes across India.
Crib | Property Management App
Founded by Sunny Garg, Shaifali Jain and Archit Chauhan in 2022, Crib is a proptech startup that connects landlords, tenants and entrepreneurs.
The property management app helps landlords acquire, manage and retain tenants. For landlords, the startup offers a software-as-a-service (SaaS) based solution that streamlines finances and improves sales, and for tenants, Crib offers a platform to explore and book properties.
Speaking about the development, Sunny Garg, Co-Founder and CEO of Crib, said,
“The real estate as we know it today belongs to the youth, the next generation that will soon be bound to take up the responsibilities of managing and growing their forefather’s investments. We at Crib are building the digital infrastructure to support these upcoming property owners by creating the ultimate property solution.”
The proptech startup aims to create a digital infrastructure that supports the next generation of property owners and provides the ultimate property solution.
Recently, Crib has also launched the #BeAnEntrepreneur campaign offering users the opportunity to earn cash rewards of up to Rs. 2,00,000 by simply referring properties to their contacts, allowing anyone to benefit from the commissions associated with real estate bookings. The campaign aims to foster the spirit of entrepreneurship and self-reliance among students and early working professionals.
Shaifali Jain, Co-founder, COO & CPO at Crib, stated that Crib, within 12 months of launch, has built a solid foundation across 10+ cities in India, including Bangalore, Hyderabad, Pune, Chennai, Ahmedabad & Delhi NCR. Currently, over 500 landlords are using Crib’s SaaS platform and managing up to 1,00,000 rental units are collecting an annual rental revenue of Rs. 900 crores.
Commenting on the development, Brij Singh, General Partner at Rebright Partners, said,
“Real Estate Industry in India has the potential to become more efficient and transparent for all stakeholders through technology interventions. We are backing Crib to transform this Industry by bringing in new products and services for Landlords, Renters, Service Providers and Financing Partners.”
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