Quikr Acquires Grabhouse & Launches Cashless Managed Rental
Quikr focuses on its other verticals!
What is Quikr doing now?
Quikr Homes, Digital real estate business, runs under Quikr has announced today its new launch of cashless managed rentals solution and acquisition of Grabhouse, India’s leading digital home rental solutions provider. The strategy behind this move is to help company in country’s real estate which does not involve any cash payments. With this acquisition Quikr will incorporate Grabhouse’s products in its Quikr Home and also focus the business with its other verticals.
More about Grabhouse
Grabhouse was founded in July 2013 by Prateek Shukla and Pankhuri Shrivastava. The motto was to use technology and provide solutions to real estate rental problems. It is one of India’s first 100% broker free platform which lists houses, PGs. It is present in 11 different cities and directly by owners and also known for its largest inventory for PGs. The company also runs Cocoon, managed home marketplace which list fully furnished houses for young generation with affordable cost. It has raised around $10 million from Sequoia Capital and Kalaari Capital and previously raised an angel round from India Quotient. It has already served over 700,000 customers as of now.
How will this help Quikr?
Atul Tewari, COO of Quikr believes that this acquisition will bring convenience to their customers as they are eliminating cash from property rentals. They are excited about Grabhouse and it will so be advantage for Quikr as Grabhouse target market has match with many of their other businesses areas such as C2C and bikes.
How will Grabhouse work after this acquisition?
Grabhouse will continue its work operations as independent brand for managed rental houses. As a part of integration process, its founder and work team will be shifted to Quikr HQ. Quikr is growing organically as well as inorganically due to its strategy and pioneering technology-based innovations. Over the past months it has ascending its other five verticals and made other acquisitions to accelerate its growth.
What do you think about cashless managed rentals solution and how well it will help the common people ? Do share your thoughts in our comment section below.
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