Elara Technologies Pte Ltd, owner of Housing.com, PropTiger.com, and Makaan.com, announced the acquisition of Gurugam-based tech-enabled rental brokerage platform FastFox.com.
Chennai:
Currently, Elara is growing at a market leading rate of more than 60% y-o-y and the new acquisition will further help the company to become the clear market leader in digital real estate in the country.
FastFox.com is an online-to-offline (O2O) brokerage firm that works in partnership with other brokers and landlords to list residential properties online for rental purposes. It allows home seekers to check pictures and access in-depth information about available properties. Beyond listings and search, the company helps schedule house visits to enable quick closure with the landlord.
It uses technology to ensure that 100 per cent of the homes listed on FastFox.com are authentic and available for immediate visit and closure. Investors in FastFox include Lightspeed Venture Partners and Blume Ventures among others.
Dhruv Agarwala, CEO Elara Technologies Pte Ltd,”Housing.com is one of the largest rental demand aggregators in India. With the acquisition of FastFox.com, we aim to catalyse our next phase of growth by driving on-ground transactions working closely with home owners, home seekers and brokers. We are already the leading online-to-offline player in the buying and selling of new homes and we will bring to bear our learnings from there on the home rentals market. We intend to use our capital and expertise to expand FastFox’s offering beyond Gurugram to other markets in India.” Pallav Pandey, Co-founder & CEO of FastFox.com said, “Housing.com’s data, technology and demand generation capabilities combined with the unique on-ground fulfilment capabilities of FastFox.com is a recipe for success in the home rentals market. The future of real estate tech will be radically different from the present and we are excited to be part of building this future along with Elara Technologies.”
Elara Technologies has built technology and on-ground capabilities to offer a range of services to home seekers, home owners, brokers and real estate developers. With the acquisition of FastFox.com, the company aims to go beyond search and discovery for home rentals on its platforms and add on-ground assistance to both landlords and home seekers.
At present, FastFox.com operates mainly in the Gurugram market and has grown significantly in the last twelve months to capture nearly 5 per cent share of the home rentals market in the city.
FastFox was valued at just under Rs 100 cr at the time of this transaction. With this acquisition, Elara has entered the online-to-offline home rentals space, which has a market opportunity of over Rs 20,000 cr.
The addition of FastFox.com to its portfolio allows Elara to offer a comprehensive end-to-end service to landlords and tenants, ensuring a significant improvement in consumer experience.
Currently, Elara is growing at a market leading rate of more than 60% y-o-y and the new acquisition will further help the company to become the clear market leader in digital real estate in the country.
FastFox.com is an online-to-offline (O2O) brokerage firm that works in partnership with other brokers and landlords to list residential properties online for rental purposes. It allows home seekers to check pictures and access in-depth information about available properties. Beyond listings and search, the company helps schedule house visits to enable quick closure with the landlord.
It uses technology to ensure that 100 per cent of the homes listed on FastFox.com are authentic and available for immediate visit and closure. Investors in FastFox include Lightspeed Venture Partners and Blume Ventures among others.
Dhruv Agarwala, CEO Elara Technologies Pte Ltd,”Housing.com is one of the largest rental demand aggregators in India. With the acquisition of FastFox.com, we aim to catalyse our next phase of growth by driving on-ground transactions working closely with home owners, home seekers and brokers. We are already the leading online-to-offline player in the buying and selling of new homes and we will bring to bear our learnings from there on the home rentals market. We intend to use our capital and expertise to expand FastFox’s offering beyond Gurugram to other markets in India.” Pallav Pandey, Co-founder & CEO of FastFox.com said, “Housing.com’s data, technology and demand generation capabilities combined with the unique on-ground fulfilment capabilities of FastFox.com is a recipe for success in the home rentals market. The future of real estate tech will be radically different from the present and we are excited to be part of building this future along with Elara Technologies.”
Elara Technologies has built technology and on-ground capabilities to offer a range of services to home seekers, home owners, brokers and real estate developers. With the acquisition of FastFox.com, the company aims to go beyond search and discovery for home rentals on its platforms and add on-ground assistance to both landlords and home seekers.
At present, FastFox.com operates mainly in the Gurugram market and has grown significantly in the last twelve months to capture nearly 5 per cent share of the home rentals market in the city.