Integrated real estate platform Square Yards on February 19 announced the acquisition of PropsAMC, a leader in data intelligence, asset management and real estate Services.
The entire team of PropsAMC including its co-founders, have joined Square Yards team and will continue to operate under the larger umbrella with the same brand name, said a press release.
PropsAMC was founded in 2016 by Anand Moorthy, ex-real estate head of RBS Private Banking, Karvy Private Wealth and ILF&S- Milestone Fund and Venkat Raghavan who previously worked with companies like Tanuj Shori
It currently manages $1.5 billion worth of property assets on its SaaS based platform for more than 100 clients in addition to providing legal, technical and valuation services to them. Its data platform has one-million plus data points on 15+ denominators.
Explaining the rationale behind the acquisition, Tanuj Shori, Founder and CEO, Square Yards, said, “With PropsAMC, we are adding very unique and differentiated data intelligence & asset management capabilities to our integrated real estate ecosystem. We will invest heavily in the data capabilities of PropsAMC with a vision of building the most comprehensive ‘housing dictionary’ for Indian real estate.”
Anand Moorthy said, “We are very excited to be a part of the Square Yards family which stands clearly focused on transactions and wants to bring higher engagement in the overall buying to selling cycle on its platform.”