Mumbai-based Real Estate ownership tech platform hBits on Monday said it has raised INR 20 crore (around $2.6 million) as a part of its fresh angel funding round from a host of investors including Nirmal Jain, InCred Capital, Jayesh Parekh and Awdhesh Krishna.
The firm will use the fresh capital to further scale up in the acquisition of new assets under management and expand its business footprint.
Shiv Parekh Founder & CEO said, “Fractional ownership is gaining momentum with new players joining the band. Investors are taking up opportunities in a day for Grade A assets. With RBI raising rates and all other forms of investments losing sheen, fractional ownership can further impetus to investing in real estate assets,”.
Chris Kolenaty of Snow Leopard said, “Shiv’s focus over the past two years has led to an impressive track record, sound economics and the necessary technology infrastructure to accelerate the building momentum,”.
Founded in 2019 by Shiv Parekh, hBits is a real estate startup that offers fractional ownership (FA) to investors in Grade A properties. It claims to have assets under management at Rs 150 crore from its eight assets.