Housing.com buys Realty Business Intelligence
Real estate portal Housing.com has acquired city-based start-up Realty Business Intelligence for an estimated $2-4 million deal (Rs 12-24 crore). According to industry sources, the acquisition will help the Softbank-backed firm strengthen its analytics capabilities to help consumers and investors make informed decisions about real estate purchases.
“Realty BI helps clients manage risks pertaining to collateral security and helps them make informed choices about projects. With this acquisition, Housing can offer <g data-gr-id="29">better</g> value proposition to its customers,” sources added. Housing.com did not respond to emailed queries or calls. Sources said <g data-gr-id="31">Merisis</g> Advisors were the advisors to the deal, but the company also declined to comment when reached. Founded in 2013, Realty BI tracks real estate trends and creates collateral risk management tools through the use of technology. Its clients include banks and HFCs/NBFCs.
Housing.com competitor Commonfloor was also in <g data-gr-id="28">race</g> for buying Realty BI. Previously, Housing.com had acquired Indian Real Estate Forum and reports suggested that it was looking to buy real estate analytics firm, PropEquity.