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NoBroker ropes in Paytm’s Vijay Sharma as investor and advisor

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CIOL NoBroker ropes in Paytm’s Vijay Sharma as investor and advisor

Following on the lines of Facebook executive Anand Chandrasekaran who joined NoBroker as an as investor and advisor a few months back, the peer-to-peer home rentals brand has now roped in Paytm founder Vijay Shekhar Sharma as an investor and advisor.

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Vijay Sharma is expected to play a key role in the company’s expansion plans across India. NoBroker currently operates in Bangalore, Mumbai, Chennai, and Pune.

CIOL NoBroker ropes in Paytm’s Vijay Sharma as investor and advisor

Just like Chandrasekaran, the amount invested by Sharma hasn’t been disclosed.

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Founded in 2013 by three IIT and IIM alum – Akhil Gupta, Amit Agarwal, and Saurabh Garg – NoBroker offers subscription fee-based services to potential tenants and homeowners, without any middlemen or real estate brokers.

The startup claims to have developed an algorithm that can scour the internet to verify that each new sign-up is a prospective tenant and not a broker. In addition to facilitating connections between two parties, the startup also provides the necessary legal documents which are customized for every deal.

They also provide supplementary services such as connecting customers with moving and packing agents, undertaking rent negotiations and assisting with the drawing up of rental agreements.

NoBroker has served 15 lakh customers till date and is adding more than 1 lakh new registered customers every month, claims the company.