Mumbai based startup, CBREX raises $200K in angel round of funding

By | December 22, 2015


Cross border hiring online portal, CBREX has raised almost $200K in an angel round of funding form Prahlad Rao, Sundara Rajan and Vikram Chachra. The company has raised funds by diluting 10 per cent of its stake. With this deal, investors are also going to join the board of the company. The co-founder of CBREX said to VC Circle, that the company will use the fund to develop its technology as well as hiring some more talent for its core team.

CBREX, which is owned by Expat Naukri Pvt. Ltd., was launched by Gautam Sinha, Sanjeev Punwani and Karunjay Anand in May 2014. The startup allows SME owners to communicate with each other in different parts of the worlds.

As of now, the company has 10 members in its team. Six out of ten are in India, whereas others are part time employees from US, China and Middle East. Currently, the company provides its services in 53 countries. According to the company, its has more than 250 verified subscribers and gets three to four sign-ups on daily basis from recruiters all around the globe. The startup is hoping to reach 10 to 15 signups a day and 1,000 verified users in next three months.

Mr. Sinha said about the development, “we will raise a proper or pre Series A in the next six months which will help us open an office in US and one of our co-founders will move there to run it. We will also expand our tech team in Bangalore and hire two to three full time employees outside India based in certain key geographies which fall in the high transaction global demand-supply corridor.”