Quikr acquires India Property

BENGALURU: Online classifieds company Quikr has acquired Chennai-based India Property, a full-stack real estate platform. YES Securities Investment Banking acted as the financial advisor for the deal while IndusLaw and S&R Associates were the legal advisors, the company said in a statement.

Backed by Bertelsmann India Investments and Mayfield, India Property, aims to simplify property buying, selling and renting. The company monetises on both the demand and supply side of the market, with solutions enabling property search, diligence, financing and transactions. Moreover, it has also built an analytics platform using street-level transaction data for residential properties.

“The strong base of India Property in Southern states and its full-stack model will help us grow our transaction business while also adding to our classifieds base,” said Pranay Chulet, CEO, Quikr.