The digital real estate company, Elara Technologies, has procured FastFox.com? a home rental brokerage firm. The acquisition has been estimated of INR 100 crore, as reported by the Indian daily news, The Economic Times.
Aside from FastFox.com, Elara Technologies presently owns three other ventures, too, namely: Housing.com, Makaan and PropTiger. News Corp and Softbank financially back the realty company, Elara Technologies.
Through the present acquisition, Elara Technologies has shifted from online to offline house rental segment and this segment amounts to be INR 20,000 crore.
Until now we were in the home rentals market through listings on both our platforms, Housing.com and Makaan.com. With this acquisition, we will now provide end-to-end on-ground assistance to both landlords and tenants in collaboration with other brokers," said DhruvAgarwala, CEO at Elara Technologies, to the Indian daily news, The Economic Times.
FastFox.com is acquired for a sum of INR 100 crore and Agarwala said, For the time being, we will retain the FastFox brand, and further, added that the entire FastFox team of 120 people will now be the part of Elara Technologies.
At present, Elara Technologies is enhancing at 60 per cent growth rate YOY (year on year) and with the present acquisition, the company will become a forerunner in the digital realty sector.