Online real estate advisor PropTiger has Acqui-hired Mumbai-based startup PropRates. With this acquisition, PropTiger aims to provide access to price-related information on the property market to consumers.
PropTiger was founded in 2015 with an aim to create transparency in the real estate market by Abhishek Malhotra and Rohan Dey. PropRates works on data collation tools that gather actual real estate transaction data. The PropRates team will work with PropTiger and will continue to build on their data gathering and analysis expertise to the available resources at PropTiger.
“With this acquisition, PropTiger will be able to augment its existing DataLabs offerings. The advanced data collation tool developed by PropRates will enable users to make more informed choices based on actual transaction prices while buying or renting property. PropRates’ Mumbai-centric data resource will soon be available to our customers on PropTiger and Makaan.” said Dhruv Agarwala, CEO, PropTiger.
This acquisition will first benefit the customers in Mumbai with the available data points on PropRates. The next phase of an expansion will have another 9 cities to the list.
Based out of Noida, PropTiger has been created by Dhruv Agarwala, Kartik Varma and Prashan Agarwal in 2009. PropTiger aims to offer a one-stop platform that allows users to search for homes, choose, visit, confirm and arrange home loans and buy the property. Since its formation, PropTiger claims to have sold homes to over 15,000 worth INR 10,000 crore.
The company had already acquired three ventures, Bengaluru-based digital interaction design company specializes in displaying real estate projects, Makaan.com, a real estate marketplace for property selling, renting and buying and, in August this year, PropTiger acquired 3DPhy, which works in the field of 3D Visualization, Augmented Reality (AR), and Virtual Reality (VR).
With this acquisition, PropTiger aims to give more transparency in the real-estate market to the consumers.
Mumbai-based Startup PropRates gets Acqui-hired by PropTiger
