Online classifieds platform Quikr
has acquired Chennai based startup India Property Online Private Limited, a
real estate platform, for an undisclosed amount.
The acquisition signals Quikr’s
strategy to build the transaction business on top of classifieds. The company
has sought to grow through acquisitions since 2015 and has acquired 14
companies so far across categories. The Tiger Global-backed Quikr
operates in segments such as real estate, auto, jobs, goods and services.
Founded in 2012, India Property
offers in-depth information on property buying, selling and renting. The
platform lists more than 6 lakh properties and 8,000 verified builder projects
across 15 cities in India. It enables property search, diligence, financing,
and transactions.
The
startup backed by venture capital fund Bertelsmann India Investments and
Mayfield has also built an analytics platform using street-level transaction
data for residential properties and covers 5 million properties in south India.
Till date, the company had raised $19 million cumulatively. Quikr
operates two models in the real estate segment -- a co-living rental business
and brokerage business for home buying.
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