Startup Atlas · Proptech

NoBroker Unicorn

Nobroker Technologies Solutions Private Limited Bengaluru, Karnataka Founded 2013 nobroker.in ↗
Amit Agarwal Akhil Gupta Saurabh Garg · Cofounder & Chief Business Officer
$365 MnTotal funding (tracked)
11Funding rounds
1 Mar 2023Last round

NoBroker: Business Model Canvas

The nine-block Business Model Canvas, filled in only where a public source states it — empty blocks mean we haven't found a citable fact yet, not that the answer is zero.

Value Propositions

Zero-brokerage buying, selling and renting

Core promise of the platform.

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Removes broker information asymmetry

Replaces the paid information/access that brokers historically monetised.

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Verified, broker-free listings

Listings are checked to ensure they come from direct owners, not middlemen.

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Customer Segments

Home owners & tenants

NoBroker's original core segment: landlords and prospective tenants connecting directly for rentals.

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Home buyers (resale & new-launch)Avg. resale ₹89L / primary sale ₹1.4Cr

Buyers of resale properties and new developer/primary-sale launches.

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Customer Relationships

High retention via home-services relationship

Positive service experiences bring users back to the platform repeatedly.

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Freemium core, paid adjacent services

Free core listing/search product funnels users into paid ancillary services.

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Channels

Cross-sell into existing tenant/owner user base

Ancillary services are upsold to users already on the platform for rentals or buying/selling.

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Key Activities

Listing verification

Manually and heuristically verifying that listings come from direct owners, not brokers.

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Home-loan matching & documentation

Matching buyers to banks/NBFCs and handling documentation and orchestration.

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Key Resources

Proprietary technology / loan-matching layer

Technology layer that intermediates the home-loan process between buyers and lenders.

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Key Partnerships

Banks & NBFCs (home-loan lenders)

Referral partners for the home-loan aggregation business.

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Real estate developers

Primary-sale channel partnerships replacing traditional broker channel partners.

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Google

Strategic investor and product-collaboration partner since the March 2023 extended Series E investment.

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Revenue Streams

Home loan referral fees~22.4% of FY26 revenue

Financial services vertical: matches buyers to lenders and earns referral fees.

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Developer commissions on primary sales

Earns broker-style commission from developers on new-launch sales.

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Premium subscription fees~₹3,000/month per user

Monthly premium plans for core real estate search/listing features.

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Home & ancillary services feesAncillary businesses ~50% of total revenue

Registration, rental agreements, home improvement, moving/packing, interiors and other services.

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Cost Structure

Employee benefit expenses33% of FY24 total costs (Rs 436 Cr)

Largest disclosed cost category in FY24, flat year-on-year.

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Miscellaneous / overhead expenses57% of FY24 total expenditure (Rs 738 Cr)

Largely undisclosed cost bucket the company did not break down further.

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FAQs on NoBroker

What is NoBroker's business model?

NoBroker's core value proposition centers on Zero-brokerage buying, selling and renting, Removes broker information asymmetry, Verified, broker-free listings.

How does NoBroker make money?

NoBroker's cited revenue streams include Home loan referral fees, Developer commissions on primary sales, Premium subscription fees, Home & ancillary services fees.

Sources & corrections. Every fact on this page is compiled from cited public sources — follow the "source" links beside each entry. Profile sources: www.tofler.in www.nobroker.in inc42.com inc42.com techcrunch.com · Last verified 7 Sep 2026. · Report a correction