Mumbai-based proptech startup JUSTO Realfintech has raised $7 Mn (around INR 58.8 Cr) from investment management firm Arbour Investments, in a combination of equity and debt infusion. According to the company, $5 Mn was raised through equity, while the remaining $2 Mn came through a debt infusion.
Founded in 2019 by Pushpamitra Das and Rahul Pande, JUSTO Realfintech offers end-to-end solutions for real estate developers, particularly in driving sales growth for group housing projects. With a presence in Mumbai, Navi Mumbai, Pune, Bhubaneshwar, Kolhapur, Aurangabad, and Nashik, the startup claims to have delivered over 9,000 housing units to date, generating more than INR 6,000 Cr in sales.
Arbour Investments, through this partnership, aims to capitalize on JUSTO’s expertise in the mid-ticket size property segment. “Justo’s expertise and market presence provide us with an unparalleled opportunity to diversify our portfolio and enhance the value we deliver to our clients. We are confident that this partnership will drive significant growth and innovation in the sector,” said Chirag Mehta, founder of Arbour Investments.
As part of the deal, Arbour Investments seeks to leverage JUSTO’s established client base and boost its project management capabilities.
On the other hand, Pushpamitra Das, co-founder of JUSTO, shared the startup’s future plans: “JUSTO plans to utilise the proceeds from the fundraise to accelerate its growth trajectory and expand its market presence.”
This funding comes as investor interest in homegrown proptech startups continues to rise. Last month, HouseEazy secured $7 Mn in its Series A funding round led by Chiratae Ventures. In the same period, Truva raised $3 Mn (around INR 24.9 Cr) in a seed funding round led by Stellaris Venture Capital. Prior to that, proptech startup Landeed received an undisclosed amount in seed funding from Paradigm Shift VC.