Homesfy Realty Acquires Broking Firm EQServ

Mumbai-based Homesfy has bought startup EQServ for an undisclosed sum as the brokerage platform focuses on proptech opportunities in the country.

Homesfy operates a tech-led brokerage offering and works with a number of major developers in India. The company was launched in 2013 with the goal of simplifying the home buying process in India with more reliable technology. Homesfy facilitated transactions worth an approximate $200m in 2021.

EQServ operates a brokerage firm that facilitates residential property sales on new developments in Mumbai.

Ashish Kukreja, Founder and CEO at Homesfy, said:

"Proptech is the next big sector considering the size of the opportunity. There is healthy consolidation and we want to build momentum with forces coming together. This is just a baby step in this direction."

Proptech has been a major focus in the Indian real estate industry since the pandemic, during which the Indian market adopted a lot of new technology, especially surrounding data privacy and transparency in large scale transactions like home purchases.