Flatchat raises $2.5 Million from Commonfloor

Flatchat, a mobile only app for students and bachelors to find accommodation and flatmates has raised 2.5M$ from CommonFloor.com. Founded six months back by Gaurav Munjal and Hemesh Singh,Flatchat enables easy and quick chatting connectivity between a seeker, a prospective owner, a tenant to potential flatmates and other seekers.

With the raised capital Flatchat is aiming to make its product team stronger by hiring the best product and engineering talent. The fund will also be used to scale up operations and establishing foothold across the country especially in the cities which have a higher population of students and bachelors.

Commenting on the big leap by the company, Gaurav Munjal, CEO, Flatchat says“The rentals problem especially for bachelors and students is a tricky one, and we always believed that the best way to solve the problem is not with having more listings or a better UI but a behaviour change in the way owners and seekers communicate, real-time. And that’s how Flatchat came into existence and within six months has seen a remarkable growth, thanks to CommonFloor for believing in us since the inception and for this impetus which will help us take Flatchat to the next level.”

Sumit Jain, Co-Founder & CEO, CommonFloor.com, commented, “We are excited to support Flatchat team in their endeavour to simplify the students & bachelors' accommodation concerns in the country. This segment has a good growth potential and Flatchat’s unique and technology centric operating model is a differentiating factor which seamlessly connects seekers and owners on a real time basis on a chat based platform.”

Flatchat has crossed 50,000+ users across both Android and iOS platforms, with 80% of the traffic coming from Android. More than 350,000 messages were exchanged on the platform last month and the product has seen a growth of 100% MOM. On Google Playstore, standing at a rating of 4.5, Flatchat is the highest rated rentals app, with over 1100 ratings.

About CommonFloor.com

Launched in 2007 by Sumit Jain, Lalit Mangal and Vikas Malpani, CommonFloor.com, is India’s leading real estate platform that combines property search, apartment management and vendor management and caters to a person’s complete residential requirements.

From searching for an apartment to facilitating interactions within an apartment community on the ‘CommonFloor’ platform, to connecting one to relevant service providers, the platform is dedicated to meeting all aspects of consumers’ needs around their home. With over 5 lakh active property listings from over 200 cities, it has over 1 lakh residential projects listed with it. CommonFloor.com has been funded by Accel Partners, Tiger Global and Google Capital.

To know more about CommonFloor.com, please visit: http://www.commonfloor.com/

About Flatchat

Flatchat connects potential flatmates, prospective owners and seekers to group together by providing matches based on location and requirement. An accommodation assistant is also present to help with queries and in solving issues, if any.

Flatchat is a broker free platform which aims at connecting you with Flats (owners) and Flatmates without having to go through Brokers. Flatchat helps you with accommodation services in Bangalore, Mumbai, Delhi-NCR, Pune, Chennai and Hyderabad.

When you share a flat, the most important thing is with “whom” you are going to share it with. All you need is a Facebook profile to get started. Flatchat then shows you matches according to your needs. You can chat with these matches and take it ahead, and voila! Your accommodation worries are taken care of. Download Flatchat at http://flatchat.com

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