Real EstateDealmakingM&A / FundingProptech

Aurum PropTech acquires majority stake in co-living platform Grexter

Aurum PropTech, an India-based proptech formerly known as Majesco, announced acquiring a 53% stake in Bangalore-based co-living company Grexter Housing Solutions for Rs 27 crore (~$308 million), according to the Economic Times.

Aurum says the purchase is intended to strengthen its product offering by improving its technology platform and increasing its focus on community-led engagement in its co-living spaces.

Grexter Living previously used tech platform TheHouseMonk, a property management solution provider in which Aurum PropTech recently acquired a majority stake. That deal involved $5 million in seed funding and granted Aurum a 51% stake in the company.

“Grexter Living is a strategic fit in our Connected Living Segment of Integrated PropTech Ecosystem. With this acquisition, we continue our inorganic growth spree of building products and services in the PropTech value chain. With SaaS products already in our ecosystem, Grexter Living will further add to our Real Estate as a Service (‘RaaS’) business,” Aurum Ventures founder and CEO Ashish Deora stated in the release.

Aurum Ventures recently acquired Aurum PropTech in June 2021, and has since been on quite the run of acquisition deals. In addition to TheHouseMonk, Aurum has also invested in asset management company Integrow and SaaS technology firm K2V2 Technologies (Sell.do).

Grexter co-founder and CEO Pratul Gupta says that it now plans to rapidly scale its co-living operation in India in the next 18 to 24 months.

“Aurum PropTech’s Integrated PropTech ecosystem will act as a force multiplier for our co-living business and with the influx of funds we would be able to accelerate the growth at Grexter Living,” Gupta stated in the release.

In other recent proptech news, Walker and Dunlop struck the largest technology acquisition to date ($85 million in cash) with the purchase of GeoPhy. PennyMac is also investing in its broker channel with a new Tavant partnership.

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