Online ERP for Apartment Complexes ApartmentADDA Raises Angel Funding

ApartmentADDA, the startup which makes it easier for housing societies and residential complexes to manage their accounts and other things has an angel round.

Angel investors Sharad Sharma, Bhupen Shah, Raghu Tarra, Vijay Anand (Intuit), Zaheer Rattonsey and others participated in the funding round.

ApartmentADDA provides a private online portal for apartments and villa communities which can be used for facility management, maintenance billing and accounting.

More than 3600 apartment & villa communities have signed up and it has a user base of 1.6 lakh home owners, the company said. About Rs 45 crore of maintenance billing is raised by societies every quarter on the portal.ApartmentAdda

The startup was launched in 2008 by Venkat Kandaswamy and Sangeeta Banerjee, both from CEG (College of Engineering, Guindy), who came back to India after a stint in the US.

The service costs Rs 180 per flat per year. The company says that it is profitable already.

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