ApnaComplex was acquired for an undisclosed sum from NestAway Technologies, one of India’s leading rental housing operators.
Tech-led real estate services firm Anarock Group, on Tuesday announced its 100% acquisition of digitally-driven society and apartment management PropTech platform ApnaComplex. A 10-year rich B2C technology player, ApnaComplex was acquired for an undisclosed sum from NestAway Technologies, one of India’s leading rental housing operators funded by Goldman Sachs, Tiger Global, UC-RNT Fund, IDG India, Chiratae Ventures and InnoVen Capital.
A highly differentiated SaaS product, Apna Complex is one of India’s largest and fastest-growing PropTech firms within the Society & Apartment Management business. Headquartered out of Bengaluru, it currently enables over 600,000 households across 80 Indian cities to effortlessly automate all aspects of running large gated complexes. The startup was among the top ten solutions launched at the Product Launch pad at the NASSCOM Product Conclave.
The advanced tech stack is hosted in the cloud, availed through an intuitive front-end mobile app/web portal and completely automates the day-to-day operations of societies, gated communities and apartment complexes. It is a mini-ERP and security solution with major modules for billing & accounting, security & gate management, community engagement, resident services and facility management, combining to render a unique experience for residents.
“At the heart of the product is the unparalleled maintenance billing and accounting stack which enjoys loyalty amongst clients and is unrivalled in capabilities. It is also fully compliant with all prevailing data regulations and, through this acquisition, will aim for the highest global standards in data protection, and align with GDPR and other associated guidelines,” the company said in a statement.
From buying and selling homes to managing and maintaining them, real estate digitalisation is now a root concept, said Anuj Puri, Chairman – Anarock Group. “ApnaComplex is a pioneer in providing housing societies and households with a reliable and trustworthy tech platform for managing their properties. We are clear that the business will run independently and with a distinctive culture that the technology world demands. We are ready to invest aggressively in this platform to bring in the required product features and to hire key talent to help deliver value to all stakeholders.
Our acquisition rationale is to extend innovative features and tech upgrades for homeowners, residents, society managing committees, as well as facility and security management teams. We will look beyond just large societies and include small and medium-size complexes, to scale up substantially over the next few years. We also expect to scale up the staff strength to aid operational growth,” he added.