Mumbai, 19 January 2021: The ANAROCK Group, India’s premier tech-led real estate services firm, today announced its 100% acquisition of digitally-driven society and apartment management PropTech platform ApnaComplex. A 10-year rich B2C technology player, ApnaComplex was acquired for an undisclosed sum 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 firms within the Society & Apartment Management business. Headquartered out of Bangalore, it currently empowers over 600,000 households across 80 Indian cities to effortlessly automate all aspects of running large gated complexes. The start-up was among the top ten solutions launched at the Product Launch pad at the NASSCOM Product Conclave.
Anuj Puri, Chairman – ANAROCK Group says, “From buying and selling homes to managing and maintaining them, real estate digitalization is now a root concept. ApnaComplex is a pioneer in providing housing societies and households with a reliable and trustworthy tech platform for managing their properties. We are clear that the business will run independently and with a distinctive culture that the technology world demands. We are ready to invest aggressively in this platform to bring in the required product features and to hire key talent to help deliver value to all stakeholders.”
“Our acquisition rationale is to extend innovative features and tech upgrades for homeowners, residents, society managing committees, as well as facility and security management teams,” says Puri. “Simultaneously, to connect our developer relationships to make these automated services available to a much wider clientele in India, and piggy-back our cross-border business in GCC for global expansion. We will look beyond just large societies and include small and medium-size complexes, to scale up substantially over the next few years. We also expect to scale up the staff strength to aid operational growth”.
The advanced tech stack is hosted in the cloud, availed through an intuitive front-end mobile app/web portal and completely automates the day-to-day operations of societies, gated communities and apartment complexes. It is a mini-ERP and security solution with major modules for billing & accounting, security & gate management, community engagement, resident services and facility management, combining to render a unique experience for residents. At the heart of the product is the unparalleled maintenance billing and accounting stack which enjoys loyalty amongst clients and is unrivalled in capabilities.
It is also fully compliant with all prevailing data regulations and, through this acquisition, will aim for the highest global standards in data protection, and align with GDPR and other associated guidelines.
Commenting on the acquisition, Raja Sekhar Kommu, Co-founder & Ex-Chairman – ApnaComplex & senior business leader at NestAway stated, “The ApnaComplex platform enjoys a high degree of trust with its customers, primarily due to its relentless focus on industry trailblazing innovations, which make gated community living a pleasure. The platform’s focus on data privacy is very well known and highly appreciated by its customers. With ApnaComplex finding a new home at ANAROCK, it will now grow to its fullest potential.”
“With its deep industry relationships and a tech-first approach, ANAROCK is optimally positioned to scale up the network,” he says. “The services are already being used in a large number of high-end complexes built by leading developers. With the support from ANAROCK’s stellar leadership team, which has successfully grown and managed profitable organizations, I am confident of rapid penetration into the length and breadth of India and globally”.
Shajai Jacob, Managing Director & Country Head – ApnaComplex & CEO – GCC, ANAROCK said “The post-COVID-19 world underscores the immense traction amongst residents and societies for automated touch-less safety and security measures, as well as need for reliable services readily at hand. For the lakhs of households already using ApnaComplex’s services, the partnership with ANAROCK will translate into a significant upgrade – a highly-enhanced UI/UX, seamless gate & security management, richer tech features as well as enhancement of complementary resident services driven by robust technology”.
The evolution in automation for real estate, which began with ‘smart homes’ offerings, has now advanced to digitalizing ‘Smarter Communities’. Within this, ApnaComplex helps bring order to the usual manual management of housing societies. Most importantly, the application saves time for the unsung heroes of the Managing Committees of gated complexes. Thereby, ensuring living in such societies a pleasant, convenient and safe experience for the entire community.