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Bengaluru-based real estate investment platform Property Share Online Platform Private Ltd or PropShare has raised Rs 367 crore ($47 million) in a Series B funding round led by WestBridge Capital.

Existing investor Pravega Ventures also participated in the round.

PropShare will use the fresh capital to scale its platform across geographies and real estate asset classes by expanding distribution channels and investing in technology and people. On the customer’s side, the startup said that it will focus on leveraging technology to further improve the user experience by enhancing liquidity and adding newer product lines, according to a statement.

The company was founded by IIM Ahmedabad alumni Kunal Moktan and Hashim Khan in 2016.

Hashim Khan, Co-founder and CTO, PropShare said, “With Rs 1,000 crore of assets facilitated on the platform, PropShare is the largest commercial property investment platform in India. By partnering with WestBridge Capital, we plan to grow to over $1 billion in transacted assets on the platform by expanding into new geographies and property types, while keeping technology and our investors at the core of our offering.”

Indian commercial real estate is an attractive $100 billion market with limited access to investors, as per Deepak Ramineedi, Partner at WestBridge Capital. 

“PropShare is a pioneer in the space, enabling investors to purchase high-quality commercial real estate assets in the same manner as institutional funds. We believe the product offers a compelling proposition for end customers with around 9 percent yield / annualized dividend, 4-6 percent annual appreciation and strong downside protection. PropShare has scaled to $125 million+ AUM with high capital efficiency and has already achieved profitability,” stated Deepak.