propdial funding: Proptech startup Propdial raises Rs 1 crore via compulsory convertible debentures

New Delhi: Propdial, a proptech startup that helps NRIs and Indians living in other cities manage properties from a distance, has raised a top-up of Rs 1 crore by way of compulsory convertible debentures (CCDs).

This top-up is a part of the funding round to which Propdial
raised Rs 1 crore last year in November. Prior to this, the company had also raised seed funding last year.

The funding will be used to scale Propdial’s domestic business and augment its geographical reach further across India.

“With this top-up, we are closing CCD round and focusing more on the next milestone of scaling our business while preparing for Series-A fundraise in mid-2022”, said Vinay Prajapati, cofounder and CEO, Propdial.

Propdial entered into the property management service space in 2017, offering property management as a service which helps property owners remotely manage real estate in India. It has expanded operations across 8 states and 20 cities in India while counting customer base from 50 plus countries.

“To further ignite growth and capture large market opportunity, we are looking to strengthen our middle and senior management layer, also on-boarding industry veterans as part of advisory team”, said Gopal Mishra, Co-Founder and COO, Propdial.

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