- Using this funding, the organization plans to roll out additional cutting-edge services in the coming years and fortify the team at JustHomz.com.
India, January 30, 2024: Black Opal Group, led by banking veteran Prasoon Chauhan and COO Ishan Agarwal, has successfully secured a $3 million investment from SBI and HDFC Banks, along with other investors. This capital infusion is earmarked for the advancement of services and the expansion of the team at JustHomz.com, India’s pioneering prop-fintech B2B2C platform introduced by Black Opal Group in 2023.
Tackling challenges prevalent in the real estate sector, such as privacy concerns, 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 is designed to enhance the home buying experience by prioritizing customer privacy, offering a user-friendly map interface, easy access to property documents, and introducing a unique scoring algorithm called Just Scorz. This app evaluates properties on 85+ technical parameters, providing a comprehensive assessment of each project. The platform also integrates various financing products like home equity, renovation financing, and early brokerage.
Currently serving the NCR region, the JustHomz app has garnered over 5000 customers, 250+ verified channel partners, and 240+ verified projects. The company’s ambitious goal is to onboard more than 100,000 customers and achieve $3-5 million in loan disbursements through the app in the next 3-6 months.
Expressing his perspective on these significant milestones, Prasoon Chauhan, the Founder and CEO of Black Opal Group, stated, “We recognized the profound need for a robust integrated ecosystem—a one-stop platform for every Indian aspiring to buy their dream home. Our objective is to furnish them with accurate information, easy access to customizable capital solutions, and a seamless buying and selling experience.”
Black Opal Group has amassed over $4.5 million in revenue and generated $1.75 million in profit after taxes thus far. Through its platform, it has facilitated transactions exceeding $200 million in real estate projects, benefiting 1500 home buyers and disbursing $6 million from the NBFC. With a dedicated team boasting 70+ years of combined experience in real estate and financing, the company is poised to solidify its market presence by prioritizing customer satisfaction and delivering innovative services.
