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HDFC Capital-backed proptech startup Reloy, which assists builders in generating referral sales, reported a 65% increase in its revenue for the fiscal year 2023-24, reaching Rs 21 crore. This growth was driven by robust housing demand and increased client acquisitions.
In the previous fiscal year, Reloy’s revenue was Rs 12.7 crore.
“Our growth is attributed to higher referral sales and more client acquisitions,” said Reloy founder and CEO Akhil Saraf.
Reloy facilitated Rs 1,450 crore worth of referral sales in the last fiscal year and aims to generate Rs 3,500 crore in the current fiscal year.
Founded in 2015, Reloy specializes in real estate loyalty and referrals, operating as a B2B2C homeowner and broker management platform. It helps builders manage relationships with homeowners and brokers more efficiently.
To date, Reloy has raised Rs 13 crore from various investors, including HDFC Capital, which holds a 10% stake in the startup. Last year, the company secured Rs 7.2 crore in a pre-series A2 funding round, with participation from existing and new investors like BlueLotus VC and Dream Green Capital. In February 2022, Reloy raised Rs 5.9 crore.
“Our solution streamlines the post-purchase journey for homeowners, offering benefits across ancillary needs such as home interiors and home finance,” Saraf explained.
Reloy’s clients include prominent names like Godrej Properties, DLF, M3M, Shapoorji Pallonji Real Estate, Kolte Patil, Embassy Residential, Mahindra Lifespaces, K Raheja Corp, Brigade, Piramal, Rohan Builders, L&T Realty, Smartworld, BPTP, and Purti Realty.
The company assists homeowners with post-purchase activities like document management, construction tracking, and payments. Additionally, it creates a marketplace for connected needs such as home interiors and finance.
Recently, Reloy launched ‘Connectre 4.0’, the latest version of its referral app, enhancing the user experience from site visit to possession.
“The upgraded app empowers users to navigate their homebuying journey effortlessly, fostering loyalty and driving referrals at every stage,” Saraf stated.
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By Proptechbuzz
By Ravi Kumar
