Anarock buys apartment management platform ApnaComplex in an all-cash deal
PropTech startup ApnaComplex is being used by over 600,000 households across 80 Indian cities.
ANAROCK Group, a tech-led real estate services firm, has made a 100 percent acquisition of digitally-driven society and apartment management PropTech platform ApnaComplex from Technologies. Founded in 2010, ApnaComplex was acquired by NestAway Technologies in 2020 for an undisclosed amount.
ApnaComplex is a SaaS product headquartered out of Bengaluru. It currently serves over 600,000 households across 80 Indian cities. The startup was also among the top ten solutions launched at the Product Launch pad at the NASSCOM Product Conclave.
Watch Anuj Puri, Chairman, ANAROCK Property Consultants, talk about the acquisition:
Apna Complex helps bring order to the usual manual management of housing societies. The platform claims to save time for managing committees of gated complexes, thereby ensuring living in such societies is convenient and safe for the entire community.
Anuj Puri, Chairman, ANAROCK Property Consultants, said, “From buying and selling homes to managing and maintaining them, real estate digitalisation is now a root concept. 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,” he added.
Ananrock will use its developer relationships to make these automated services available to a much wider clientele in India and also prepare the company for global expansion.
Through this acquisition, the platform said it will also aim to achieve the highest global standards in data protection, as well as align with GDPR and other associated guidelines.
Anuj Puri
Raja Sekhar Kommu, erstwhile Founder and Chairman, Apna Complex, and key business leader at NestAway, said, “ApnaComplex has found a home at ANAROCK. With its deep industry relationships and a tech-first approach, ANAROCK is optimally positioned to scale up the platform. The services are already being used in a large number of high-end complexes built by leading developers. With support from ANAROCK’s stellar leadership team, which has successfully grown and managed profitable organisations, I am confident of rapid penetration into the length and breadth of India and globally”.
Edited by Megha Reddy