The investment will be used to further the company’s expansion plans
HDFC Capital-backed proptech firm Reloy, which helps realtors in generating referral sales, has raised Rs 7.2 crore (Rs 72 million) from investors to expand its business. In a pre-series A2 funding round, Reloy (earlier known as Loyalie) said all the existing investors participated along with new investors like BlueLotus VC and Dream Green Capital.
In February last year, the company raised Rs 5.9 crore from investors, taking the total external funding to over Rs 13 crore. The investment will be used to fuel the company's growth and expansion plans, the company said.
“India is now the world's most populated nation with only the seventh largest land mass. We need our builders to create the largest cities the world has ever seen. It's time we empowered good builders with our referrals," Reloy founder and CEO Akhil Saraf said. “Our solution streamlines the post-purchase journey that homeowners have with builders and rewards them with benefits across ancillary requirements of home interiors and home finance,” he added.
Founded in 2015, Reloy has been specialising in real estate loyalty and referrals since 2018. It is a B2B2C homeowner and broker management platform that helps builders manage their customers and brokers more efficiently. Working closely with top real estate developers to create the perfect home-owning journey through their customer loyalty programmes, the company helps homeowners with post-purchase like document management, construction tracking, and payments. It also creates a marketplace for other connected needs of home interiors and home finance.
Reloy’s turnover jumped to around Rs 130 million in the 2022-23 fiscal from Rs 43.3 million a year ago.