Flyhomes, a US-headquartered homebuying platform, has raised $150 million (Rs 1,097 crore) Series C financing to fuel its growth and expand presence in India, the company said in a statement.
The round was co-led by venture capital firms Norwest Venture Partners and Battery Ventures. It also saw participation from Fifth Wall, Camber Creek, Balyasny Asset Management, Zillow co-founder Spencer Rascoff, Leo Capital, and existing investors Andreessen Horowitz and Canvas Partners.
As part of the transaction, Lisa Wu of Norwest Venture Partners and Roger Lee of Battery Ventures will join the Flyhomes board.
“Flyhomes is investing in rapidly growing our engineering, product, and design teams in both India and the US. We are transforming the US homebuying experience, relying heavily on our team of talented engineers, sourced from premium institutes. India engineering talent has been critical to building Flyhomes,” said Tracie Hlavka, EVP – engineering, Flyhomes.
Launched in 2016 by Tushar Garg and Stephen Lane, the company claims that it has so far bought and sold more than $2.6 billion worth of homes.