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China’s Richest Man May Invest $100 Million In Indian Startup Housing.com

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China’s Fosum International Private Ltd. is planning out to invest $100 million in one of India’s most successful startups, Housing.com led by Rahul Yadav.

Fosun, backed by billionaire chairman Guo Guangchang, who was claimed as “China’s Warren Buffet” will be investing $100 million in Mumbai Locon Ltd. which operates the base of the real estate giant. One of the two members, who cited this investment said that Housing.com is on the road to raise another investment and this proposal could be considered as part of that fund raising.

This funding round by Fosun is 5th in the list and the startup has raised nearly $121 million since it’s inception back in 2012. India, the next most populous country in the world, is seen as a growing opportunity, with its large middle class and millions of young joining the urban workforce every year.

“If Fosun is interested in Housing.com, then it is an indicator that companies are seeing potential in integrating bricks and clicks in the longer run,” said Ramesh Nair, chief operating officer, Jones Lang LaSalle (JLL) India.
In December 2014, the operating firm Locon Solutions raised $88 million from numerous investors and according to a report in The Times of India, the funding round closed in December valued Housing.com at around $250 million (Rs.1,550 crore).
The basic function of Housing.com is to provide verified listing of properties across the nation with proper images and verified points for listing. It will be interesting to see how well Housing.com utilizes this investment to improve it’s productivity.

 

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