Homesfy Realty, Mumbai-based real estate broking platform, has acquired EQServ for an undisclosed sum, the company said in a statement on Monday.
Homesfy Realty was founded in 2011 and helps in simplifying the home buying process and making the real estate transaction reliable and hassle-free.
Last financial year, has facilitated transactions worth Rs 1,650 crore on its platforms in the last financial year. Furthermore, it is present across regions including Mumbai, Bengaluru, Pune and Delhi NCR.
Ashish Kukreja, Founder and Chief Executive Officer (CEO), Homesfy.in stated, “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.”
Based in Mumbai, EQServ was founded by Rajul Tandon in 2020. The platform primarily caters the category A+ developers across Mumbai, It facilitates sales of residential property for category A+ developers across Mumbai. The company claims to have sold more than 390 units and has added over 330 customers.
Investment in real estate and property technology has increased in India, owing to the sector's adoption of technology during the Covid-19 pandemic. Technology is being used by new age businesses to address the lack of transparency and data.
According to data shared by Housing.com, private equity investment in proptech firms increased by 5 per cent from January to June to $270 million.