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Square Yards Acquires Rental & Property Management Firm Azuro

6Feb By AnkitaNo Comments

ACQUISITION

Square Yards Acquires Rental & Property Management Firm Azuro

Property brokerage firm Square Yards, which is backed by Anil Ambani-led Reliance Group, has acquired Mumbai-based rental platform Azuro as part of its expansion plan. Founded in 2016 by IIT Bombay alumni Altaf Ahmad, Sushant Kumar, Sudhanshu Mishra, Ayush Agrawal and Vishal Chauthmal, Azuro offers rental and property management solutions. It helps in finding a tenant, background checks, automated rent collection, property maintenance and tenant exits. The entire team of Azuro, including its co-founders, has joined Square Yards and will continue to operate under the larger umbrella with the same brand name. Square Yards founder and CEO Tanuj Shori said, "Square Yards is building an integrated intermediary ecosystem for the real estate industry and this requires the best of techno...

O2O Platform Square Yards Raises USD 12 Million Investment From Anil Ambani

India's largest online to offline (O2O) real estate transaction player Square Yards has raised USD 12 million investment from the Private Equity arm of Anil Ambani led Reliance Group. This is Square Yards' first institutional investment after it had raised USD 11 million from a clutch of HNW investors last year. Founded in 2013, Square Yards is the largest distributor for primary residential real estate in India, and it enjoys a leadership position in the Non Resident Indian (NRI) markets. "With this collaboration, the company will be able to draw on Reliance's extensive experience, particularly in scaling up the business to a higher growth trajectory and creating significant shareholder value in the process. Besides capital, we will also get access to best practices in running l...

Square Yards Doubles Revenue With Strong Real Estate Supply Chain

ANI- At a time when most online real estate players have been struggling, Square Yards has announced its doubled revenue run rate, which is likely to cross Rs. 200 crore in gross revenues from Rs. 100 crore in a span of six months. In the last six months, Square Yards achieved operational break even, launched a broker aggregation platform, significantly enhanced its tech and marketing capabilities and scaled its International presence to countries. The team size has also swelled to 1000+ employees. Square Yards now estimate around 600 to 700 transactions a month with a value of Rs. 350+ crore each month. This puts Square Yards on pedestal with top developers in India on the ability to move such sizeable real estate volumes. "Square Yards has been very successful in striking structur...