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Tiger Global, Accel back Indian real estate portal CommonFloor

5 Jul 2013

Indian real estate website CommonFloor has raised INR45 crore ($7.5m) from hedge fund investor Tiger Global Management and venture capital firm Accel Partners.

The pair are existing investors in the company and in October last year led a Series B financing round.

“This round of funding by our existing investors is a vote of confidence in our business model and traction that we have built in a short time through our differentiated offerings,” said Sumit Jain, co-founder and chief executive, CommonFloor.

The company is targeting $25 of turnover within two years on the back of 100 per cent revenue increases every quarter.

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