Aurum PropTech to acquire 53% stake in Grexter Living for Rs 26.7cr

Aurum PropTech Limited (formerly Majesco Limited), a subsidiary of Aurum Ventures, said that its board of directors has approved the company’s acquisition of a 53% stake in co-living company Grexter Housing Solutions (Grexter Living) for INR 26.7 crores.

Based in Bengaluru, Grexter Living is a SaaS platform company focused on rental management in real estate.

Grexter Living helps tenants by providing living spaces in more than 18 locations in Bengaluru with more than 2,000 beds and over 80% occupancy across locations.

Ashish Deora — Founder and CEO of Aurum Ventures said: “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.”

Grexter Living is expected to use the investment from Aurum PropTech to ramp up its business in co-living space. The company aims to bolster its product offering by ehancing its tech platform and concentrating on community led engagement in its co-living spaces.

Grexter Living uses the TheHouseMonk tech platform, owned by an Aurum PropTech group company.

Pratul Gupta — Grexter Living Co-Founder and CEO said: “We are very excited to partner with Aurum PropTech. Their 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.

“We plan to scale rapidly and become the largest co-living operator in India in the next 18 to 24 months. Grexter Living’s USP lies in creating community experiences in its spaces, which has become vital for rental real estate consumers post Covid-19.”