Commenting on the transaction,Dhruv Agarwala, CEO Elara Technologies Pte Ltd.,which , , and , said,“ is one of the largest rental demand aggregators in India. At present, operates mainly in the Gurugram market and has grown significantly in the last twelve months to capture nearly 5% share of the home rentals market in the city. FastFox has also built a proprietary matching engine powered by data and machine learning, which ensures that only relevant home seekers go for house visits enabling faster closing of transactions. This makes the process of renting convenient for landlords, potential tenants and brokers. has pioneered the revolutionary ‘Open House’ model for rentals in India, in which a house is open for viewing by home seekers for a scheduled period of time. With the acquisition, the company aims to go beyond search and discovery for home rentals on its platforms and add on-ground assistance to both landlords and home seekers. Elara Technologies has built strong technology and on-ground capabilities to offer a range of services to home seekers, home owners, brokers and real estate developers. It uses technology to ensure that 100% of the homes listed on are authentic and available for immediate visit and closure.Investors in FastFox include Lightspeed Venture Partners and Blume Ventures among others. Beyond listings and search, the company helps schedule house visits to enable quick closure with the landlord. It allows home seekers to check pictures and access in-depth information about available properties. is an online-to-offline (O2O) brokerage firm that works in partnership with other brokers and landlords to list residential properties online for rental purposes. Currently, Elara is growing at a market leading rate of more than 60% y-o-y and the new acquisition will further help the company to become the clear market leader in digital real estate in the country. The addition of to its portfolio allows Elara to offer a comprehensive end-to-end service to landlords and tenants, thereby ensuring a significant improvement in consumer experience. With this acquisition, Elara has entered the online-to-offline home rentals space, which has a market opportunity of over Rs. 100 crores at the time of this transaction. Housing Parent Elara Technologies Enters the Online-to-Offline Home Rentals Market with the Acquisition of Įlara Technologies Pte Ltd., owner of, and, today announced the acquisition of Gurugam-based tech-enabled rental brokerage platform.
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