Gurgaon based technology driven Real Estate Brokerage focused exclusively on Commercial Office Leasing has raised an undisclosed amount of Angel Funding from a clutch of HNIs. This initial round of fund raise is after successful launch of operations in June 2016.
The innovative platform www.QubeStack.com encourages prospective tenants, whether individuals and companies, to search from thousands of physically verified properties available for lease. QubeStack claims to offer details for over 100 decision impacting parameters with real recent photographs, thus easing the process of identifying a best-fit property for their unique requirement set.
Co-founded by Sulabh Singal, Neha Arur & Shantanu Jain, QubeStack calls itself a tech driven ‘Phygital’ startup with an optimal focus on both online and offline aspects of deal making. Unlike most real estate startups aiming to eliminate the broker, QubeStack wants to become the middleman of choice. They believe that given the complexity of real estate and the inherent need to physically see before making a decision, their phygital model is the best fit for the India consumer.
They claim to be the first in the industry to be able to offer an online option to ‘Book Site Visit’ on the strength of their authentic database of ‘real properties’ backed by ‘real owners’. They also offer a unique ‘eNegotiate™’ feature that allows a landlord and tenant to negotiate lease terms in a secure and private online environment. ‘QubeYellow’, their proprietary mobile app to collect and standardize property information gives them significant competitive advantage, standardization and scalability across geographies. ‘QubeRed’, their in-house mobile solution to aid tenant requirement gathering further adds an essential layer of information towards superior match-making. QubeStack claims to be the first brokerage in India to display their entire inventory online with the deepest, most authentic information.
Shantanu, Chief Sales Officer at QubeStack says, ‘Each city and micro market has its own unique nuances and necessitates us to have our ears to ground at all times. Our field staff actively gathers not only factual data, but is also able to pick up the street chatter as well. All this information helps us improve the quality of our conversations with the clients. Our marketing campaign shall encompass all mediums and shall be focused on brand building and recall. Not charging brokerage from the tenant is only an addition to our inherently strong value proposition.’
Estimated at USD 4 Billion, Office leasing market in India is growing at 18% per annum QubeStack has already expanded their presence to Gurgaon, Noida and New Delhi and claim to have over 6 million square feet of physically verified office spaces.
‘We now add over 400 new properties every month in the three cities we are present in,’ says Neha, COO ‘to offer the most detailed and up to date choice of inventory to our clients. The pace will only increase with every new city being added to the QubeStack footprint. Our ability to straddle the online and offline space with equal focus differentiates us from the crowd and offers our clients an end-to-end offering, right from search to settle. The results are already showing; we have achieved a run rate of a transaction every 2.5 days in the past few months. Increasing the transaction run-rate, average unit size and average ticket size while reducing the Lead-2-Deal cycle time through significant online intervention is our future.’
‘QubeStack does not cater to the residential side of the market; neither do we distract ourselves with sale-purchase of real estate. Laser focused on Leasing for Offices, we have taken huge strides in reaching to this point, having serviced scores of clients ranging from low hundreds to several thousand square feet, we are poised to capture both mind-space and market share in what is today a highly disorganized and fragmented market. We aim to be present across the top 12 cities in India covering more than 80% of the market by 2018. By virtue of our ‘Phygital’ model we collect a wealth of primary data every day and our endeavor is to convert this goldmine into intelligence for our clients. Our current service offering is already several steps ahead of competition, we are already working on building some really innovative, first-of-a-kind products and services that will help us create new monetization models’ says Sulabh, CEO.
‘The future is scale and scalability and being a geography agnostic technology solution we are keen to explore expansion models across smaller cities in India and markets in other Asian countries too including Sri Lanka, Thailand, Philippines and also the more organized markets of Hong Kong, Singapore and Dubai’, he concludes.