The ANAROCK Group, tech-led real estate services firm, has announced its 100% acquisition of digitally-driven society and apartment management PropTech platform ApnaComplex.
B2C technology player, ApnaComplex, was acquired for an undisclosed sum from NestAway Technologies, rental housing operator funded by Goldman Sachs, Tiger Global, UC-RNT Fund, IDG India, Chiratae Ventures and InnoVen Capital.
A highly differentiated SaaS product, ApnaComplex is a PropTech firms within the Society & Apartment Management business. Headquartered out of Bangalore, it currently empowers over 600,000 households across 80 Indian cities. The start-up was among the top ten solutions launched at the Product Launch pad at the NASSCOM Product Conclave.
Anuj Puri, Chairman – ANAROCK Group says, “From buying and selling homes to managing and maintaining them, real estate digitalization is now a root concept. ApnaComplex is a pioneer in providing housing societies and households with a reliable and trustworthy tech platform for managing their properties. We are clear that the business will run independently and with a distinctive culture that the technology world demands. We are ready to invest aggressively in this platform to bring in the required product features and to hire key talent to help deliver value to all stakeholders.”
“Our acquisition rationale is to extend innovative features and tech upgrades for homeowners, residents, society managing committees, as well as facility and security management teams,” says Puri. “Simultaneously, to connect our developer relationships to make these automated services available to a much wider clientele in India, and piggy-back our cross-border business in GCC for global expansion. We will look beyond just large societies and include small and medium-size complexes, to scale up substantially over the next few years. We also expect to scale up the staff strength to aid operational growth.”
Commenting on the acquisition, Raja Sekhar Kommu, Co-founder & Ex-Chairman – ApnaComplex & Senior Business leader at NestAway stated, “The ApnaComplex platform enjoys a high degree of trust with its customers, primarily due to its relentless focus on industry trailblazing innovations, which make gated community living a pleasure. The platform’s focus on data privacy is very well known and highly appreciated by its customers. With ApnaComplex finding a new home at ANAROCK, it will now grow to its fullest potential.”
“With its deep industry relationships and a tech-first approach, ANAROCK is optimally positioned to scale up the network,” he says. “The services are already being used in a large number of high-end complexes built by leading developers. With the support from ANAROCK’s stellar leadership team, which has successfully grown and managed profitable organizations, I am confident of rapid penetration into the length and breadth of India and globally.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.