Black Opal Raises $3 M from SBI, HDFC Bk, Launches JustHomz.com Prop Fintech Platform  

January 30, 2024: Black Opal Group, led by banking veteran Prasoon Chauhan and COO Ishan Agarwal, successfully acquired $3 million from SBI and HDFC Bank, among other investors. The funding will be utilized to enhance services and expand the team at JustHomz.com, says a press release issued by the company.

Black Opal Group operates through its Asset Management vertical, an RBI-registered NBFC, and the integrated technology platform JustHomz.com. The tech-enabled platform focuses on improving the home buying experience by prioritizing 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.

Currently operational in the NCR region, the JustHomz app has registered 5000+ customers, 250+ verified channel partners, and 240+ verified projects. The company now aims to onboard over 100,000 customers and achieve $3-5 million in loan disbursements through the app in the next 3-6 months. 

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 customizable capital solutions, and a seamless buying and selling experience”. 

Black Opal Group 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 and distributed $6 million from the NBFC.