NoBroker ramps up hiring, offers pay hike

Online real estate platform NoBroker on Monday said it has hired 500 employees for its marketing, technology and business operations verticals in the past nine months.

“We have expanded our technology, marketing and business operations teams with new recruits and are looking to further scale up our operations,” Amit Agarwal, co-founder and CEO, NoBroker said.

Additionally, the company has offered an average hike of 15% to 200 senior employees, while customer service executives were given regular quarterly incentives, a statement said.

“We are rewarding our senior employees, many of whom have been with NoBroker.com since the beginning, with salary hikes for their efforts in driving this growth,” Agarwal said.

The company said it has not laid off employees or cut salaries since the Covid-19 outbreak.

The Bengaluru-based startup’s society living management business NoBrokerHood has earmarked Rs 150 crore to expand the service to 50 cities in the next six months. The service is currently available in 11 cities.

In the initial phase of the lockdown, NoBrokerHood had partnered with BigBasket and ITC to deliver groceries and other essentials to residents in housing societies. In February, NoBroker acquired Society Connect to integrate the latter’s financial module with NoBrokerHood.

The tech-enabled brokerage-free real estate platform’s parent company NoBroker Technologies was founded in 2013 by IIT-Kanpur and IIM-A graduate Agarwal, IIT-B and IIM-A graduate Saurabh Garg, and IIT-B alumnus Akhil Gupta.

It has over 85 lakh registered users across Bengaluru, Mumbai, Pune, Chennai, Hyderabad and Delhi-NCR.

NoBroker recently said it has grown nearly eight fold in the past four-five months -- it currently lists 6,000 housing societies on its platform compared to less than 700 in March.

In its last fundraise, the company received a $30 million top-up from returning investor General Atlantic in April. It has so far raised a total of $151 million from investors such as Tiger Global, SAIF Partners, Beenext and KTB Ventures.