Tired of paying high brokerage fees for renting or buying property? You’re not alone—and that’s exactly the problem NoBroker set out to solve. Founded in 2014 by IIT alumni Amit Agarwal, Akhil Gupta, and Saurabh Garg, NoBroker revolutionized the Indian real estate sector by removing middlemen from property transactions. With a digital-first approach, the company has helped over 18 million users and saved more than ₹1,100 crores in brokerage fees. NoBroker is now valued at over ₹8,300 crores ($1 billion) and continues to disrupt the proptech industry.
The Founding Vision: Real Estate Without Middlemen
The idea for NoBroker was born out of frustration. The three co-founders, all from engineering backgrounds, had personally experienced the inefficiencies and unnecessary costs of dealing with real estate brokers. They envisioned a platform where property owners and seekers could connect directly, making transactions smoother, cheaper, and more transparent. In 2014, NoBroker was launched in Bengaluru—and quickly gained traction.
Innovative Business and Revenue Model
NoBroker operates on a digital user-to-user model, completely removing intermediaries. Its revenue is generated through multiple channels:
- Freemium model: Free basic access for users
- Subscription plans: Relax Plan, Freedom Plan, and MoneyBack Plan
- Advertisement revenue: Display ads to over 3 million monthly visitors
This hybrid revenue model has made NoBroker sustainable while offering value-added services to its users.
Range of Products and Services
Over the years, NoBroker has evolved from a listing platform to a comprehensive property management ecosystem. Its major offerings include:
- Property Listings: Enables owners and seekers to connect directly, view details, images, and contact each other without brokers.
- Rental Agreements: Create, e-sign, and receive legally valid rental agreements with doorstep delivery.
- NoBroker Pay: Facilitates rent payments via UPI, credit cards, or net banking, often with cashback offers.
- Home Services: Book services like pest control, painting, cleaning, and repairs directly through the app.
- Packers and Movers: Offers relocation solutions with real-time tracking and secure delivery.
- Property Management: For NRIs and landlords who want a hands-free rental process, including tenant sourcing and rent collection.
These offerings make NoBroker a true one-stop solution for all real estate needs.
Funding and Backing by Industry Giants
NoBroker has raised over $430 million in funding and is supported by prominent investors such as Google, Tiger Global, General Atlantic, BEENEXT, and Paytm’s Vijay Shekhar Sharma. These investments have helped the startup scale to over 50 cities and achieve unicorn status in 2021.
Awards and Recognition
NoBroker’s innovation and growth have been widely recognized:
- Champions of Change by NITI Aayog
- Coolest Startup by India Today Group
- Digital Marketer of the Year by IAMAI
- Recognized at the 14th AGBA Global Conference for Disintermediation in Real Estate
These accolades validate NoBroker’s impact on reshaping how real estate works in India.
Future Expansion and Vision
With India’s real estate market booming and urbanization accelerating, NoBroker aims to expand to 50+ cities and achieve ₹1,000 crore in annual revenue within the next few years. Its focus remains on tech-enabled efficiency, customer service, and expanding its suite of home services. The company also plans to introduce more AI and ML features to enhance property recommendations and fraud detection.
Wrapping Up
NoBroker’s journey from a startup idea to a billion-dollar proptech disruptor proves the power of solving real-world problems with technology. By eliminating brokers and making real estate transactions transparent, affordable, and user-friendly, NoBroker has changed the lives of millions. As it continues to scale, the company is set to lead the future of real estate in India with innovation at its core.
Frequently Asked Questions (FAQs)
Q1. What is NoBroker and how does it work?
NoBroker is a real estate platform that connects property owners directly with tenants or buyers, eliminating the need for brokers. It also offers legal, payment, and home services.
Q2. Who are the founders of NoBroker?
NoBroker was founded in 2014 by Amit Agarwal, Akhil Gupta, and Saurabh Garg—all alumni of IITs.
Q3. How has NoBroker saved ₹1,100 crores for its users?
By removing brokers from the equation, users avoid paying hefty brokerage fees. Direct interactions between owners and seekers lead to significant cost savings.
Q4. What services are offered by NoBroker?
Services include property listings, online rental agreements, rent payment via NoBroker Pay, cleaning, pest control, packers and movers, and end-to-end property management.
Q5. How does NoBroker generate revenue?
NoBroker earns from subscription plans, advertisements, and value-added services like rental agreements and property management.