Revenue Model Of Nobroker
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The company wants to maximize the reach and hope to be present in top cities of the country.
Revenue model of nobroker. With no brokerage charges the company service package ranges from rs 999 to rs 5 999. Between then and now nobroker has come a long way upping its security and building a model that enables micro matching of properties and in the process increasing property closures. The real tech startup uses ai and machine learning algorithms to gather all sort of data. The top 10 competitors average 531.
First by attracting advertisements from furniture start ups it claims over 2 5 million user visits per month. The nobroker revenue model has two parts. Nobroker s attempts at charging internet users and to generate revenues are one of the litmus tests of the built for india business model that only a handful of start ups are said to follow. Gradually the model seems to be working for nobroker however it s still far away from making profits.
Unlike others the bengaluru based startup offers a subscription model for tenants as well as owners. Nobroker has a freemium as well as subscription based membership where the customer has multiple subscription plans to choose from. It has recorded a 465 7 per cent rise in revenue to rs 6 28 crore in fy17 as compared to rs 1 11 crore in the previous fiscal. The company operates on a p2p rental marketplace and has 3 revenue models namely freemium model for tenants freedom plan and relax plan.
Nobroker s revenue is the ranked 8th among it s top 10 competitors. The top 10 competitors average 10 6m. Business revenue model. The pitfall of excessive cash burn and rapid expansion of several digital real estate developers has led late entrant nobroker technologies solutions to crack the revenue model in the rental space as a priority before pressing expansion and diversifying into home buying category.
House hunting through paid subscription. It also earns revenue by offering services such as connecting tenants with movers and packers and drafting rental agreements.
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