Realty search aggregator, Square Yards Consulting Pvt. Ltd has recently procured a property management platform, Azuro for an undisclosed amount.
According to the concord, the investment companies of Azuro--White Unicorn Ventures, Kae Capital and Mumbai Angels, VC Circle reported citing the companys official statements.
According to the media report, Azuros entire team, comprising its founders, will become part of Square Yards following the acquisition. The Mumbai-headquartered company, which is administered by Fittr Technologies Pvt. Ltd was established in 2016 by alumni of IIT-Bombay--Ayush Agrawal, Vishal Chauthmal, Sudhanshu Mishra, Sushant Kumar, Vishal Chauthmal and Altaf Ahmad.
The move will help the company in adding synergies to its value chain because of Azuros approach to gaining market share in the large rentals and property management space, Founder and CEO at Square Yards, Tanuj Shori said in an interview with the cited media agency.
Both rentals and property management are multi-billion-dollar opportunities but are currently underserved in India, Shori added.
Azuro would integrate its end-to-end property management system with Square Yards platform and leverage the latters reach, operational resources, and consumer-facing portal, Ahmad, Co-founder of Azuro, said in an interview with the cited media agency.
Azuro states that its portal renders a one-stop property and rental management solution by addressing the logistical and tactical issues involved with tenant-acquisition and background checks. Its other services also include automated rent collection, property maintenance, and tenant exist.