With the fresh funds, the Mumbai-based company plans to expand its reach within the Mumbai Metropolitan Region and increase its market share.
Founded in 2023 by Arshad Balwa and Ansuman Mohanty, Jugyah is a real estate brokerage platform that connects property buyers and tenants with sellers and landlords. The platform also offers additional services, including an in-house mortgage origination arm that provides financing options for its users.
“To truly solve the home buyer and renter’s problems, we had to re-architecture the entire home sale and rental value chain from first principles. We realised that listing platforms are very surface level and barely solve the search and discovery problem. What happens after, that is the visit, negotiation, transaction and post move-in experience, is completely offline and unstandardised,” said Balwa, cofounder of Jugyah.
“By vertically integrating all the five steps through a digital platform with a physical experience center and embedding a fin-tech layer to remove nuisances and adding features such as legal assistance, loan financing we realised we could create an affordable, truly 10x, phygitally enabled method of finding a home. The goal is to make real estate brokerage a standardized product instead of a variable quality service.”
All tenants on the platform must undergo an e-KYC procedure and credit assessment, helping landlords select credit-verified tenants for their properties. Buyers benefit from free seepage warranties, free legal support, and zero-commission mortgage pre-approval.
Discover the stories of your interest
Jugyah has established offline experience centers across South Mumbai and Navi Mumbai, where buyers, sellers, tenants, and landlords can receive assistance from Jugyah’s agents.The company claims it is currently growing at over 50% month-over-month and expects to be cash-flow positive by the end of this year.
Additionally, Jugyah noted that the size of the long-term rental and resale market in India is estimated to reach $300 billion by 2026, with the brokerage and property management market expected to hit $20 billion by the same year.
“We are excited about Jugyah’s vision to comprehensively solve challenges that buyers, renters, landlords and agents face in today’s marketplace. Arshad and Ansuman bring to bear insights, networks, and energy which can truly make a difference in the everyday lives of middle-class India in growing metropolises – we can’t wait to see what they will build here,” Sandeep Patil, head of Asia at QED Investors.
Jugyah’s major competitors include Nobroker, Property Guru, and Housing, among others.