Reloy, with the backing of HDFC Capital, raises Rs 7.2 crore in funding to expand its business. The pre-series A2 funding round saw participation from existing and new investors. Reloy's innovative solution streamlines the post-purchase homeowner journey by offering rewards and managing over 1.4 lakh apartments. Clients include prominent real estate developers. HDFC Capital plans to increase its stake in Reloy. The company's turnover surged to around Rs 13 crore, and it provides essential services for homeowners, creating a marketplace for home interiors and finance. Reloy aims to optimize customer and broker relationships in the real estate industry.
Backed by HDFC Capital, Reloy, an avant-garde proptech enterprise, secures a remarkable investment of Rs 7.2 crore from investors, fuelling its business expansion. In a pre-series A2 funding round, Reloy (formerly recognized as Loyalie) reported active participation from existing stakeholders, alongside novel investors such as BlueLotus VC and Dream Green Capital. This financial injection will fuel the enterprise's growth trajectory and expansion ambitions, according to the company. Notably, last year Reloy garnered Rs 5.9 crore from investors, culminating in a cumulative external funding of over Rs 13 crore.
Akhil Saraf, the visionary founder, and CEO of Reloy, emphasizes the urgent need to empower proficient builders in India. As the world's most populous nation with the seventh-largest land mass, India requires monumental cities, and Saraf envisions enabling exceptional builders through impactful referrals. Saraf further expounds on Reloy's transformative solution, which streamlines the post-purchase homeowner journey while simultaneously offering enticing rewards spanning ancillary requirements encompassing home interiors and financing.
With a colossal portfolio of over 1.4 lakh apartments, Reloy proudly serves an esteemed clientele including industry titans such as Godrej Properties, DLF, Shapoorji Pallonji Real Estate, Embassy Residential, Mahindra Lifespaces, K Raheja Corp., Brigade, and Piramal Realty. In a noteworthy development, HDFC Capital Advisors recently announced their intent to elevate their stake in Loyalie IT Solutions, now rebranded as Reloy, from 7.2 percent to a substantial 9.6 percent. The acquisition of 1.67 lakh compulsory convertible preference shares was executed at an equity share price of Rs 89.81, amounting to a transaction value of Rs 1.49 crore. This move reinforces HDFC Capital Advisors' unwavering commitment to Reloy's transformative journey.
Reloy's unwavering dedication to perfecting the homeownership experience is deeply ingrained in their customer loyalty programs, established through close collaboration with esteemed real estate developers. Exemplifying their remarkable growth, Reloy's turnover has surged from Rs 4.33 crore in the previous fiscal year to an impressive Rs 13 crore in 2022–23. By assisting homeowners with critical post-purchase necessities such as document management, construction tracking, and seamless payments, Reloy effectively curates an encompassing marketplace catering to diverse interconnected requirements spanning home interiors and finance.
Founded in 2015, Reloy has emerged as an industry pioneer specializing in real estate loyalty and referrals since 2018. Functioning as a dynamic B2B2C homeowner and broker management platform, Reloy optimizes builders' customer and broker relationships, fostering efficiency and operational excellence. As Reloy continues to redefine the landscape of real estate customer engagement, its ground breaking initiatives pave the way for a progressive industry paradigm.
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