ANAROCK Group, a leading technology-driven real estate services company, has announced its 100% acquisition of the digital company and apartment management platform PropTech ApnaComplex. A wealthy B2C tech player for 10 years, ApnaComplex was acquired for an undisclosed amount from NestAway Technologies, India’s leading rental housing operator 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 companies within the Society & Apartment Management business. Based in Bangalore, it currently enables more than 600,000 households in 80 Indian cities to effortlessly automate all aspects of the management of large gated complexes. The startup was among the top ten solutions launched during the NASSCOM Product Conclave product launch platform.
Anuj Puri, Chairman of ANAROCK Group, said: “From buying and selling houses to managing and maintaining them, the digitization of real estate is now a fundamental concept. ApnaComplex is a pioneer in providing housing companies and households with a reliable and trustworthy technology platform to manage their business.We are confident that the company will operate independently and with a distinctive culture demanded by the tech world. We are ready to aggressively invest in this platform to bring the required product functionality and hire key talent to help create value for all stakeholders. “
“Our raison d’être is to extend innovative features and technology upgrades to owners, residents, company management committees, as well as facilities and security management teams,” said Puri. “Simultaneously, to connect our developer relationships to make these automated services available to a much larger customer base in India, and to strengthen our cross-border business in the GCC for global expansion. We will look beyond large corporations and include small and medium enterprises. complexes in size, to increase considerably over the next few years. We also plan to increase the workforce to help with operational growth ”.
The advanced technology stack is hosted in the cloud, operated through an intuitive mobile app / web portal, and completely automates the day-to-day operations of companies, gated communities and apartment complexes. It is a mini-ERP and security solution with major modules for billing and accounting, security and door management, community engagement, resident services and facilities management, se combining to provide a unique experience to residents. At the heart of the product is the unprecedented maintenance invoicing and accounting stack that enjoys customer loyalty and is unmatched in terms of capabilities.
It is also fully compliant with all applicable data regulations and, through this acquisition, will aim for the highest global data protection standards and align with the GDPR and other related guidelines.
Commenting on the acquisition, Raja Sekhar Kommu, co-founder and former chairman of ApnaComplex and senior business leader at NestAway, said: “The ApnaComplex platform enjoys a high degree of trust with its customers, mainly in because of its relentless focus on pioneering innovations in the industry. , which make living in a gated community a pleasure. The platform’s emphasis on data privacy is very well known and highly appreciated by its customers. With ApnaComplex finding a new home in ANAROCK, it will now reach its full potential. “
“With its deep relationships with the industry and a technology driven approach, ANAROCK is uniquely positioned to grow the network,” he says. “The services are already in use in a large number of high-end resorts built by leading developers. With the support of the excellent management team of ANAROCK, who have been successful in developing and managing profitable organizations, I am confident of a rapid penetration into the length and breadth of India and into the world ”.
Shajai Jacob, Managing Director and Country Head – ApnaComplex and CEO – GCC, ANAROCK said, “Post-COVID-19 world highlights immense traction among residents and corporations for automated contactless safety and security measures , as well as the need for reliable services at your fingertips. For the thousands of homes already using ApnaComplex’s services, partnering with ANAROCK will result in a significant upgrade – a highly improved user interface / UX, seamless door and security management, richer technological features as well. that the improvement of complementary resident services thanks to robust technology. ”.
The evolution of real estate automation, which started with ‘smart home’ offerings, has now progressed towards the digitalization of ‘smarter communities’. In this context, ApnaComplex helps to put order in the usual manual management of housing companies. Above all, the application saves time for the unsung heroes of the management committees of closed complexes. Thus, living in such societies is a pleasant, practical and safe experience for the whole community.