Black Opal Group, led by banking veteran Prasoon Chauhan and COO Ishan Agarwal, acquired $3 million from SBI and HDFC Banks, among other investors, the company said in a statement.
The funding will be utilised to enhance services and expand the team at JustHomz.com, prop-fintech B2B2C platform introduced by Black Opal Group in 2023.
The tech-enabled platform focuses on improving the home buying experience by prioritising customer privacy, providing a user-friendly map interface, easy access to property documents, and introducing a unique scoring algorithm called Just Scorz.
The app evaluates properties on 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.
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Currently operational in the NCR region, the JustHomz app has registered 5000+ customers, 250+ verified channel partners, and 240+ verified projects.
Sharing his views on the significant milestones, Prasoon Chauhan, the founder and CEO of Black Opal Group said, “We deeply felt the need for a solid 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 customisable capital solutions, and a seamless buying and selling experience”.
The company 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.
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Founded in 2020, Black Opal Group currently operates through its Asset Management vertical, a Reserve Bank of India (RBI) registered Non-Banking Financial Company (NBFC), and the recently launched integrated technology platform, JustHomz.com.
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