Black Opal Group, led by banking veteran Prasoon Chauhan and COO Ishan Agarwal, successfully acquired $3 million from SBI and HDFC Banks, among other investors. The funding will be utilized to enhance services and expand the team at JustHomz.com, which is India’s first prop-fintech B2B2C platform introduced by Black Opal Group in 2023.
Addressing challenges in the real estate sector, such as privacy issues, unverified data, and a lack of tailored financing products, 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.
Sharing his views on the significant milestones, 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, benefiting 1500 home buyers and distributing $6 million from the NBFC. With a dedicated team boasting 70+ years of combined experience in real estate and financing, the company aims to establish a strong market presence in the future by prioritizing customer satisfaction and providing innovative services.
About BlackOpal Group
Founded in 2020, Black Opal Group is committed to providing seamless solutions and transparency within the real estate sector, with a particular emphasis on enhancing the home-buying experience through robust research and technology foundations. The Group currently operates through its Asset Management vertical, a Reserve Bank of India (RBI) registered Non-Banking Financial Company (NBFC), and the recently launched integrated technology platform, JustHomz.com. Collectively, these entities cover the entire spectrum of the real estate ecosystem.
