A Mumbai-Based Proptech Startup is Redefining Home Sales with Guaranteed Results
A New Way to Sell Homes
Started in 2020, Mumbai-based startup Zapkey is changing how people sell homes in India’s resale market. Founders Shubhankar Dongre, Sandeep Reddy, and Raja Seetharaman created Zapkey to solve common problems homeowners face: slow sales, unpredictable pricing, and confusing processes. Zapkey promises to sell a home within 90 days, or they’ll buy it themselves.
The Problem with Selling Homes
For many Indian homeowners, selling a property is an uphill battle marked by uncertainty, fragmented agent networks, and a lack of trust. Zapkey was born out of the founders' desire to streamline this experience.
"Home sellers face significant challenges, including unclear pricing, delays, and tedious paperwork," says Shubhankar Dongre, Co-founder of Zapkey. “Our mission was to create a platform that provides trust, transparency, and predictability while simplifying the home-selling journey."
How It All Started?
Zapkey’s founders have been in the real estate tech space for over a decade. Their previous venture, Propstack, provided data for businesses in real estate. With Zapkey, they’ve built a platform focused on helping individual home sellers. The startup began with ₹25 lakh and recently raised $2 million from investors like Gruhas Proptech, DLF Family Office, and others. This funding will help improve Zapkey’s technology and expand its team.
Zapkey’s model is inspired by international startups like Opendoor and Loft, but it’s tailored for the Indian market. “No Indian company is doing this right now,” says Shubhankar, adding that Zapkey’s focus on data and trust sets it apart.
Growing in a Big Market
India’s resale property market is worth over $30 billion in major cities like Mumbai, Delhi, and Bengaluru. Zapkey started its home guarantee model in Thane in 2022, aiming to sell 100 homes in six months. The company is now working with over 250 brokers in Thane and plans to expand to Pune and Bengaluru. Zapkey’s goal is to sell 1,000 homes within a year.
How Zapkey Works?
Zapkey’s home sale guarantee model is built on proprietary algorithms and a streamlined operating system. Here’s how it operates:
1. Price Determination:
Sellers submit property details, and Zapkey generates an initial price based on its digitized valuation mechanism and access to over 3 million property registration records.
2. Home Inspection and Final Offer:
After an inspection, a final price is offered to the seller. Upon acceptance, Zapkey signs an MoU and begins marketing the property.
3. Enhanced Buyer Experience:
Zapkey ensures a smooth buyer journey with a repository of verified home documents, professional cleaning, and smart lock-enabled visit scheduling.
4. Seamless Process Management:
Sellers receive regular updates through Zapkey’s proprietary operating system. The startup charges a 2% market-standard fee upon successful sale.
Zapkey goes the extra mile to offer a 3-month seepage warranty and ownership verification to instill confidence in buyers.
What Makes Zapkey Special?
- Guaranteed Sale: If the home doesn’t sell within 90 days, Zapkey buys it.
- Fair Pricing: Zapkey’s tools analyze over 30 lakh property records to ensure fair market prices.
- Convenient Process: Sellers don’t have to worry about cleaning, painting, or paperwork, Zapkey handles it all.
- Extra Benefits: Buyers get a 3-month seepage warranty, adding trust to the deal.
Future Plans
Zapkey wants to become a one-stop solution for home sellers. In addition to guaranteed sales, they plan to offer services like home loans and home upgrades, which will help them grow their revenue. For now, the focus is on homes priced under $500,000, where data availability and sales speed are best.
Zapkey is on a mission to make home selling in India simple, transparent, and stress-free. By solving the problems sellers face and guaranteeing results, Zapkey is becoming a trusted name in the real estate world. With its innovative approach, it’s helping homeowners sell with confidence and ease.
Image source: X
