Flatchat raises $2.5 Million from CommonFloor

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Common FloorNewZNew (Chandigarh) : Flatchat, a mobile only app for students and bachelors to find accommodation and flatmates has risen 2.5M$ from CommonFloor.com. Founded six months back by Gaurav Munjal and Hemesh Singh,Flatchat enables easy and quick chatting connectivity between a seeker, a prospective owner, a tenant to potential flatmates and other seekers.

With the raised capital Flatchat is aiming to make its product team stronger by hiring the best product and engineering talent. The fund will also be used to scale up operations and establishing foothold across the country especially in the cities which have a higher population of students and bachelors.

Commenting on the big leap by the company, Gaurav Munjal, CEO, Flatchat saysThe rentals problem especially for bachelors and students is a tricky one and we always believed that the best way to solve the problem is not with having more listings or a better UI but a behaviour change in the way owners and seekers communicate, real-time. And that’s how Flatchat came into existence and within six months has seen a remarkable growth, thanks to CommonFloor for believing in us since the inception and for this impetus which will help us take Flatchat to the next level.”

Sumit Jain, Co-Founder & CEO, CommonFloor.com, commented, “We are excited to support Flatchat team in their endeavour to simplify the students & bachelors’ accommodation concerns in the country. This segment has a good growth potential and Flatchat’s unique and technology centric operating model is a differentiating factor which seamlessly connects seekers and owners on a real time basis on a chat based platform.”

Flatchat has crossed 50,000+ users across both Android and iOS platforms, with 80% of the traffic coming from Android. More than 350,000 messages were exchanged on the platform last month and the product has seen a growth of 100% MOM. On Google Playstore, standing at a rating of 4.5, Flatchat is the highest rated rentals app, with over 1100 ratings.

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