#Asia Former 99Acres.com head Vineet Singh invests in Housing.com

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Till date, Housing has raised over US$100 million in capital from the likes of SoftBank, Nexus, Helion and DST’s Yuri Milner

housing

India’s leading real-estate portal Housing.com has received an undisclosed sum in investment from Vineet Singh, former Business Head of 99Acres.com, a major online realty platform owned by Info Edge.

Singh will closely work with the Housing management team in a senior advisory role.

The funding comes three months after Mumbai-based Housing raised US$15 million from lead investor SoftBank.

Singh is a veteran in the real estate industry with a proven track record in the offline and online space to deliver high-growth results. Having spent a decade in the online space, he is a specialist in B2B and B2C marketplaces.

As part of Info Edge’s executive leadership team for a decade, Singh built 99Acres.com and Naukri.com from startups to scaled companies with strong sales capabilities,.

Prior to joining Info Edge, he worked at Xerox and Thomas Cook. He is also Co-founder, CEO and MD of Buildczar.com, an online marketplace for building materials and finishing products.

Founded in 2012, Housing.com claims it has 1.7 million verified homes listed to date. Housing provides independently-verified listings of every home listed, conducted by a trained team of data collectors, analysts, auditors and photographers.

Vineet Singh

Vineet Singh

With over 120 data points per listing, the in-house Data Sciences Lab is empowered with a significant body of information to allow buyers and sellers to make more informed decisions.

In the past, Housing.com has led a number of strategic acquisitions, such as the largest community forum on buying and selling homes (Indian Real Estate Forum), an established company focused on doing due diligence of new real estate projects (Realty Business Intelligence), and a popular software for developers to manage and enhance their marketing and sales efforts (HomeBuy360).

Till date, Housing.com has raised over US$100 million in capital from India’s leading investors, including SoftBank, Nexus Ventures, Falcon Edge, Helion Ventures, Nirvana Ventures, Qualcomm, DST Founder Yuri Milner, Viacom 18 Co-founder Haresh Chawla, and Snapdeal founders Kunal Bahl and Rohit Bansal.

A few months ago, Housing was mired in controversy after its former CEO Rahul Yadav sent a stinking e-mail exchange with Shailendra Singh, MD of leading VC firm Sequoia Capital, over the poaching of employees. This episode led to Yadav’s unceremonious exit from the company. He had also made derogatory remarks against Housing’s own investors.

Last year, Housing also received flak for its decision to lay off around 800 of its employees to cut costs.

Recently, Housing’s Co-founder Advitiya Sharma quit the company.

The post Former 99Acres.com head Vineet Singh invests in Housing.com appeared first on e27.

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