Propdial, a proptech incubator that lets NRIs and Indians living abroad manage their properties from afar, has raised INR 1 crore through compulsory convertible debentures (CCDs).

This cash infusion is part of a capital round in which Propdial raised Rs 1 crore in November of last year. The startup had previously obtained seed money last year.

Propdial will use the funds to expand its domestic operations and expand its geographical reach across India.

Propdial's founders and CEO, Vinay Prajapati, stated, “With this top-up, we are closing CCD round and focusing more on the next milestone of scaling our business while preparing for Series A fundraise in mid-2022.”

Propdial entered the property management service industry in 2017, offering property management as a service that enables property owners in India to manage their properties remotely. It now has operations in eight states and twenty cities across India, with a customer base of more than 50 countries.

Propdial's Co-Founder and COO, Gopal Mishra, stated, “To further ignite growth and capture large market opportunity, we are looking to strengthen our middle and senior management layer, also on-boarding industry veterans as part of advisory team.”