MyGate, an India-based real estate community app that incorporates property listings, has reshuffled its leadership team and reported strong revenue growth for the 12 months to March 2024 (FY23-24).

According to a news release, co-founder Abhishek Kumar has moved from the position of COO to become MyGate’s CEO, succeeding co-founder Vijay Arisetty, who becomes chairman. Additionally, the role of co-founder and CTO Shreyans Daga has been expanded to encompass product, technology and new initiatives, while Rohit Jindal has been promoted to chief business officer.

In a separate news release, the proptech startup revealed that revenue for FY23-24 grew by about 35% year on year INR1.0 billion ($11.9 million U.S.). The company added that it had “three consecutive months of zero cash burn” during the year.

Founded in 2016, MyGate is predominantly a community management app with such features as visitor management, maintenance bill payment and scheduling repairs. In September 2021, it add a property marketplace called Homes, which competes with NoBroker.

Last month, MyGate announced an ESOP buyback program for employees who had worked at the company for at least four years.

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