your password has been reset successfully, Please login again.

Housing.com Procures Fastfox.Com for INR 100 Crore

The digital real estate company, Elara Technologies has procured FastFox.com, a home rental brokerage firm
BY BEx Bureau
BusinessEx
Apr 01, 2019

T

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.

Please add your Comment
SIMILAR News
June 19, 2019
IT firm, Cognizant has proclaimed to have acquired Zenith Technologies for an undisclosed sum. ...More
By Jaspreet Kaur
June 18, 2019
Kredily helps to digitise businesses and automate HR as well as payroll-related duties. ...More
By Jaspreet Kaur
June 18, 2019
Tech Mahindra, a subsidiary of Mahindra Group, is buying Canadian IT consultancy, Objectwise for rou ...More
By Jaspreet Kaur
June 17, 2019
The tech giant, Amazon is in talks with the Indian supply chain firm, NinjaCart to make a huge inves ...More
By Jaspreet Kaur
June 17, 2019
Ascendas Property Fund Trustee manages Ascendas trust and had signed a concord with Nalanda Shelter, ...More
By Jaspreet Kaur
June 14, 2019
Since April 2017, Nikkei, as well as NewsRise, have been collectively rendering English-language new ...More
By Jaspreet Kaur
June 14, 2019
The acquisition of 30 per cent shares would prompt an open offer from Total SA to the public stakeho ...More
By Jaspreet Kaur
June 13, 2019
The Bahrain-based firm, Investcorp is raising money through its real-estate fund, which it had start ...More
By Jaspreet Kaur
June 11, 2019
The multinational conglomerate company, Softbank Group has more than 46 per cent shareholding in OYO ...More
By Jaspreet Kaur
June 11, 2019
By attaining a second close, the micro venture capital fund can begin investing in the companies and ...More
By Jaspreet Kaur
June 10, 2019
The acquisition of Jaypore, an e-commerce platform, is likely to happen in 35 to 40 days. ...More
By Jaspreet Kaur
June 10, 2019
The platform helps to ascertain real-time locations to masses of people and other vital niches such ...More
By Jaspreet Kaur