Black Opal group has raised $3 million from SBI and HDFC Bank, to enhance services and expand the team at JustHomz.com, prop-fintech platform of the company.
Addressing challenges in the real estate sector, such as privacy issues, unverified data, and a lack of tailored financing products, Black Opal Group operates through its asset management vertical, an RBI-registered NBFC, and the integrated technology platform JustHomz.com.
The tech-enabled platform focuses on improving the home buying experience by prioritizing customer privacy, providing a user-friendly map interface, easy access to property documents among others.
The app evaluates properties on over 85 technical parameters, offering a comprehensive assessment of each project. The platform also integrates multiple financing products such as home equity, renovation financing, and early brokerage.
Currently operational in the NCR region, the JustHomz app has registered over 5000 customers, 250 verified channel partners, and 240 verified projects.
The company now aims to onboard over 100,000 customers and achieve $3-5 million in loan disbursements through the app in the next 3-6 months.
“We felt the need for an integrated ecosystem—a one-stop platform for every Indian aspiring to buy a dream home. We aim to provide them with the right information, easy access to customizable capital solutions, and a seamless buying and selling experience,” said Prasoon Chauhan, the founder and CEO of Black Opal Group.
Black Opal Group has made over $4.5 million in revenue and earned $1.75 million in profit after taxes so far. Through its platform, it has processed transactions worth over $200 million in real estate projects, benefiting 1500 home buyers and distributing $6 million from the NBFC.
