Softbank backed Housing.com is in advanced talks to acquire HomeBuy360 for Rs. 5 crore. Homebuy360 is a Koramangala Bangalore-based RETech startup founded by ex-Infosys employees Kshitij Minglani, Rajat Kothari and Sohrab Kalra. Homebuy360 is designed for the real estate industry to efficiently manage marketing; sales and customer connect operations including CRM, Leads, Booking, Documents, Collections, Customizations, Handover, etc. It uses a Pay-Per-Use model.
Homebuy360 is a comprehensive tool that includes pretty much every detail that a builder or buyer might want to know. Since their product is web-based, they can customize it quickly based on the builder’s requirements and deliver the product in just 3-4 weeks. The documents are created automatically and stored securely which can be accessed from anywhere globally. The company also gives awareness on the progress which is available real time. There were reports in March this year that Housing was planning a fresh fund raise of around Rs. 3070 Cr from its existing investor SoftBank. The deal is yet to materialize.
Housing.com is an online real estate portal that enables users to search, rent and buy properties in India. Housing was founded in India in June 2012. Housing.com is owned and operated by Locon Solutions Private Limited. Its headquarters are located at Powai, Mumbai. It has raised $111.5 million with some rounds. This is Housing’s third acquisition. In May this year, it acquired Delhi based Realty Business Intelligence Private Limited, an information portal focused on the realty industry for Rs.10 Cr.
In March, it acquired real estate focused online discussion platform, Indian Real Estate Forum for R8 Cr. Earlier this year, it was seeking to buy real estate data analytics platform PropEquity for an estimated deal value of around R80-85 Cr but later in May it called off the negotiations. Some of Housing’s investors include SoftBank Group, Helion Venture Partners and Nexus Venture Partners. Housing.com has an estimated 2000 employees and estimated annual revenue of $5 million. Housing’s primary competitors are 99 acres, CommonFloor and Magic Bricks.