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
April 18, 2019
The acquisition will incorporate an advanced cash consideration of INR 32 crore (ZAR 65 million) ...More
By Jaspreet Kaur
April 18, 2019
The online footwear company said that it will be using the garnered capital to hire experienced prof ...More
By Jaspreet Kaur
April 17, 2019
APL Apollo, an Indian steel manufacturer, has confirmed reports of acquiring a manufacturing unit of ...More
By Jaspreet Kaur
April 17, 2019
TA Associates, an American private equity firm has obtained a small portion of shares in the Indian ...More
By Jaspreet Kaur
April 16, 2019
The California-based Wibmo will operate as a wholly owned subsidiary of PayU ...More
By Jaspreet Kaur
April 16, 2019
CureFit is actively acquiring companies to expand its business for almost a year now ...More
By Jaspreet Kaur
April 12, 2019
The microcredit company, Sindhuja Microcredit, is the new generation financing firm which caters fin ...More
By Jaspreet Kaur
April 12, 2019
By initiating the wellness company, Deish and Mohammed aim to become a one-step solution of women hy ...More
By Jaspreet Kaur
April 11, 2019
International Finance Corporation (IFC), a sister company of World Bank, has decided to endow money ...More
By Jaspreet Kaur
April 11, 2019
The Indian IT giant, Tech Mahindra will acquire 18.1 per cent stakes in Vitaran Electronics and Info ...More
By Jaspreet Kaur
April 10, 2019
The online investment market is a forthcoming theme in fintech (financial technology) sector ...More
By Jaspreet Kaur
April 10, 2019
Owing to the cut-throat competition prevailing in the e-commerce sector, the small etailer, Shopclue ...More
By Jaspreet Kaur