QuikrHomes, Quikr’s real estate business, today announced the launch of its cashless managed rentals solution with the acquisition of Grabhouse, home rental solutions provider.
This strategic move will help the company address an acute pain point in India’s real estate market with a solution that does not involve any cash payments.
As part of this, Quikr will integrate Grabhouse’s products and technology stack into QuikrHomes while also reaping strong synergies the business has with its other verticals.
Founded by Prateek Shukla and Pankhuri Shrivastava in July 2013, Grabhouse offers end-to-end digital solutions for the rental needs of both owners and tenants. The platform offers a managed rental homes model which comprises of a range of fully furnished, ready-to-move-in apartments across 4 major cities.
The managed rental homes model operates on top of a broader rental marketplace which offers the largest inventory of PGs and peer to peer rentals in India. The marketplace is present in 11 cities and has served 700,000 customers to date.
Grabhouse will continue operations as an independent brand for managed rental homes. As part of the overall integration process, its founders and entire team will move to the Quikr HQ (FYI: an interesting perspective on Grabhouse’ traffic strategy)
Grabhouse earlier raised $10 million from Sequoia Capital and Kalaari Capital (raised an angel round from India Quotient).
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