Proptech firm Reloy raises Rs 7.2 cr from investors to grow business

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Proptech backed by HDFC Capital Reloy, which helps landlords in generating referral sales, has raised Rs 7.2 crore from investors to expand its business.

In the pre-Series A2 funding round, Reloy (formerly Loyalie) said all existing investors participated along with new investors such as BlueLotus VC and Dream Green Capital.

The company said the investment will be used to support the company’s growth and expansion plans.

In February last year, the company raised Rs 5.9 crore from investors, taking the total external funding to more than Rs 13 crore.

Akhil Saraf, Founder & CEO of Railway said, “India is now the most populous country in the world with only the 7th largest land mass. We need builders to create the largest cities the world has ever seen. It’s time to empower good builders with our referrals.” .

“Our solution simplifies the post-purchase journey homeowners enjoy with building builders and rewards them with benefits across additional requirements for interior design and home financing,” said Al-Sarraf.

The platform manages more than 1.4 residential apartments.

Its clients include Godrej Properties, DLF, Shapoorji Pallonji Real Estate, Embassy Residential, Mahindra Lifespaces, K Raheja Corp, Brigade and Piramal Realty.

In April of this year, HDFC Capital Advisors said it would increase its stake in Loyalie IT Solutions (now renamed Reloy) to 9.6 percent from the current 7.2 percent.

HDFC Capital Advisors acquired 1.67 lakh compulsory convertible preference share (CCPS).

Preferred shares were acquired at a price of Rs 89.81 each, bringing the transaction value to Rs 1.49 crore.

In March last year, HDFC Capital acquired 7.2 per cent stake in Loyalie IT Solutions (Reloy) for Rs 1.1 crore.

Railway works closely with leading real estate developers to create the perfect home ownership journey through their customer loyalty programmes.

Its turnover jumped to around Rs 13 crore in the 2022-23 financial year from Rs 4.33 crore a year earlier.

The company assists homeowners with post-purchase issues such as document management, construction tracking, and payments. It also creates a market for other needs related to interiors and home financing.

Founded in 2015, Reloy has been specializing in real estate loyalty and referrals since 2018. Reloy is a B2B2C homeowner and broker management platform that helps builders manage their clients and brokers more efficiently.

(Only the title and image for this report may have been reworked by the Business Standard staff; the rest of the content is generated automatically from a shared feed.)