Aurum PropTech Limited (formerly known as Majesco Limited) has approved the acquisition of 100% shareholding in HelloWorld Technologies India Private Limited for a consideration of INR 38 Crore (‘HelloWorld’), a co-living company, at its Board Meeting held on Wednesday, March 23, 2022.
HelloWorld is one of the largest co-living companies in India. HelloWorld provides the most comprehensive rental solution for owners and tenants. It has presence in 16 cities across the country with a 100 plus people team engaged in the co-living business.
Speaking about the acquisition, Ashish Deora, Founder and Chief Executive Officer of Aurum Ventures, said, “With HelloWorld Technologies, Aurum PropTech’s Ecosystem caters to the consumer’s need at the beginning of their real estate consumption cycle. Student housing and Co-living demography is between 16 to 30 years representing Millennials and Gen Z. Social behaviour and consumption pattern of this demography requires a more flexible and mobile real estate solution. HelloWorld has the right product market fit, experienced operations, delivery team and an agile tech stack to deliver this need.”
“We are extremely excited to be a part of Aurum PropTech given our shared enthusiasm on tech-driven innovation in real estate through a data-driven approach, connected living, and relentless focus on enhanced consumer experiences, all making this an ideal combination. Together, we have the expertise and the shared vision of disrupting the PropTech ecosystem to deliver on our customers’ vision for the future of living. This would provide us with significant opportunities to advance our geographical presence and accelerate our aspirations to build India’s largest living solution,” said Jitendra Jagadev, Founder HelloWorld Technologies.
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