Elara Technologies acquires home rental platform FastFox

April 3, 2019
Share this Post: 

New Corp and Softbank-backed, Elara, enters the online-to-offline home rentals space

Elara Technologies, The Singaporean owner of Housing.com, PropTiger, and Makaan, has announced the acquisition of FastFox.com, a home rental brokerage platform. The platform was purchased at almost Rs 100 crore (approximately US$14.5 million). The deal was made as part of Elara's plans for growth.

With this acquisition, Elara, which is backed by News Corp and Softbank, has entered the online-to-offline home rentals space that has a market size of over Rs 20,000 crore (approximately US$2.9 billion).

"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," Elara Technologies CEO Dhruv Agarwala told PTI.

The acquisition has been done at a valuation of nearly Rs 100 crore (approximately US$14.5 million), he said.

"For the time being, we will retain the FastFox brand," he said, adding that the entire 120 people of FastFox would now become part of Elara.

Currently, Elara Technologies is growing at a rate of more than 60 per cent year-on-year and the new acquisition will further help the company to become the clear market leader in digital real estate in the country, he added.

Read more here

Join us in Miami Beach, June 5-7 for the Global Online Marketplaces Summit.

Miami Flash Sale 2019

 

April 3, 2019

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Carousell Ceo 1
Singapore Marketplace Carousell Drops SPAC Talks with L Catterton

The Singapore based horizontal marketplace company Carousell has reportedly ended talks with private equity firm L Catterton about going public...

Read More
Casavo Bright Building
Italian iBuyer Casavo Expands Spanish Footprint with Seville Opening

The Italian headquartered iBuyer Casavo has announced that it is to expand its Spanish operations to Seville where it will...

Read More
Iovox Customer Using Software Editado 1
iovox Buys Out Rival CallSource's Marketplace Division

The global call tracking and analytics solutions provider iovox has announced that it has acquired the Marketplaces division of rival...

Read More
Dorrinsider Cover
Ten Questions With Farah Falconi, Founder & CEO of DoorInsider

The question of whether portals or agents should be the ones to push new immersive listings technology is one we've...

Read More

Popular News