Brigade REAP Invests in Settlin, India’s First Gig-based Residential Resale Broker
Brigade REAP, India’s pioneering proptech accelerator, has made a strategic investment in Settlin, marking India’s first gig-based residential resale broker. This investment is part of a larger funding round of $500,000, with participation from other key investors. Settlin, a rapidly expanding start-up located in Bengaluru, has swiftly gained momentum in the real estate market thanks to its data-driven approach and gig-enabled workforce. These features have allowed Settlin to carry out resale transactions at an unprecedented scale and speed, having already sold close to 1000 homes, amounting to a gross transactional value of approximately Rs 900 crore.
Revolutionizing Resale Transactions
Through their proprietary tech stack and app-only model, Settlin has effectively disrupted the traditional brokerage system. By eliminating the need for brokerage services, Settlin offers a seamless platform for buyers and sellers in the residential resale market. This innovative solution has resulted in outstanding growth, with Settlin achieving a remarkable 10x expansion in the last two years.
Settlin has successfully filled a significant gap in India’s real estate landscape by providing an automated and frictionless experience for customers. Their fast-paced and efficient app interface facilitates swift transactions, removing any barriers typically associated with conventional brokers.
Recognizing Settlin’s Potential
Abhay Garg, the Head of Brigade REAP, expressed his appreciation for Settlin’s automated solution that caters to the resale market. This recent funding marks Brigade REAP’s third investment this year, demonstrating their commitment towards propelling growth and fostering unique innovation within India’s prop tech ecosystem. The accelerator aims to contribute to the real estate industry by addressing challenges posed by early-stage start-ups.
Garg emphasized that Brigade REAP plans to further support between eight to ten investments on an annual basis. It is compelling for the accelerator to back early-stage start-ups that provide solutions specifically tailored to the real estate industry, and Settlin perfectly aligns with this vision.
Settlin Driving Sales at Unmatched Scale and Speed
Settlin’s unique gig-based platform has revolutionized the residential resale market by offering a data-driven approach and a leading-edge tech infrastructure. With Settlin already selling three homes every day, its amazing growth speaks volumes about the transformative power of technology in real estate sales.
The platform’s ease of use, eliminating traditional brokers, and reliable app-only model make it attractive for both buyers and sellers, fostering success at an unprecedented scale. The convenience and transparency provided by Settlin have empowered both sides to conduct property transactions smoothly, leading to the sale of hundreds of homes with speed and efficiency.
A Promising Future for Settlin and Real Estate Innovations
Settlin’s success story serves as a testament to the potential of gig-based models and technology-driven solutions in India’s booming real estate resale market. As more customers recognize the agile capabilities presented by Settlin, demand for their services will inevitably continue to surge.
Investments like Brigade REAP’s injection of funds into Settlin demonstrate a growing focus on supporting and nurturing innovative real estate start-ups. As Settlin continues to expand and flourish, its vision to transform the property resale sector will likely inspire aspiring proptech entrepreneurs to venture into innovative solutions that can further revolutionize the Indian real estate market.
This collaboration between Settlin and Brigade REAP not only improves the prop tech ecosystem within India, but also showcases how the convergence of technology and real estate holds significant potential in shaping the future of the sector. With exciting developments on the horizon, the future of real estate in India appears astir with transformative opportunities.
