Black Opal Group raises $3 Mn from SBI and HDFC

Asset management company Black Opal Group has raised $3 million from SBI and HDFC Banks, among others.

The proceeds will be used  to expand its services and the team of JustHomz, a prop fintech B2B2C platform it had set up last year.

Founded by Prasoon Chauhan and Ishan Agarwal in 2020, Black Opal Group operates through its asset management vertical JustHomz.com. The platform focuses on improving the home buying experience by prioritising customer privacy, providing a user-friendly map interface, easy access to property documents, and introducing a scoring algorithm called Just Scorz. 

The app evaluates properties on technical parameters, offering a comprehensive project assessment. The platform also integrates financing products such as home equity, renovation financing, and early brokerage.

The startup claims to have registered over 5,000 customers, 250 verified channel partners, and 240 verified projects. It is currently operational in the NCR region.

The brand aims to onboard more than 100,000 customers and achieve $3-5 million in loan disbursements through the app in the next three-six months.