Housing.com acquires Realty Business Intelligence for Rs10 crore

June 12, 2015
Consumer
Press

Real estate listing website Housing.com on Thursday said it has bought risk assessment company Realty Business Intelligence (BI) for ₹ 10 crore in cash.

Realty BI is Housing’s second acquisition this year, following that of Indian Real Estate Forum (IREF). Housing, which raised $90 million funding from Japan’s SoftBank Group last December, is present in more than 100 cities in India.

“With this acquisition, Housing.com customers will now be empowered with credible real estate market intelligence and risk assessment to aid informed decision-making for investments in new projects," Housing said in a statement. “Backed by this acquisition, Housing.com will further augment its due diligence efforts to ensure verified listings, risk-free transactions and secure investments, while giving Realty BI access to a vast database of realty developers and end consumers."

Realty BI has been working with non-banking financial companies to provide a unified collateral risk assessment platform, assuring a 50% cut in costs and back-end work related to due diligence.

“I have often heard of disturbing instances where a developer having permission to construct a building up to the 16th floor was selling inventory on 17th or 18th floor to consumers," Housing chief executive officer Rahul Yadav said. “Through our acquisition of Realty BI, Housing.com strengthens its technology platform and consumer promise to deliver a powerful collateral risk management platform addressing the entire due diligence lifecycle to validate new projects."

Housing is one of the several online real estate portals besides Common Floor, No Broker and Magic Bricks, all fighting for dominance of a large but fragmented market.

Housing has been in the news over the past three months primarily because of a boardroom battle between Yadav and investors such as Nexus Venture Partners and Helion Venture Partners.

Yadav resigned in May, only to withdraw it after reaching an uneasy truce with investors.

AUTHORS

No items found.

Suggested READS

Merisis partnered fintech startup Open raises $250k from PayU India’s Amrish Rau & Jitendra Gupta
Press
ET Soonicorns Summit, Panel on 'Road to IPOs'
Press
Close to 900 funding deals to be inked in 2015
Press
Housing.com acquires Realty Business Intelligence for Rs10 crore
Press
Merisis advises Zwitch on its sale to Transerv
Press
Moonshine-Maker Ronin Wines Rakes In Fresh Funding
Press

Suggested READS

Driving Investments: Key trends in transportation and cleantech for 2024
Press
From RegTech to cross-border, fintech trends to watch out for in 2024
Press
Point of Sale Sector: Projected Trends For 2024 and Beyond
Press
ET Soonicorns Summit, Panel on 'Road to IPOs'
Press
Fintech Startups Make Noise in Point-of-Sale Segment
Press
Merisis at D2C Global Selling Summit, Bengaluru
Press
Investment activity in the Technology sector in 2013
Blogs
Consumer Spotlight Q3 FY 2016 – M&A and Private Equity Perspective on the Consumer Sector in India
Blogs
Kwench to raise $4-5 million, with eye on US market
Blogs
Advancing Analytics with Generative AI: The Next Phase
Blogs
Consumer Spotlight Q2 FY 2016 – M&A and Private Equity Perspective on the Consumer Sector in India
Blogs
The Glittering Landscape of India's Jewellery Industry
Blogs
No items found.
No items found.