Quikr acquires Grabhouse a home rental start-up

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Quikr, the online classified portal, has procured home rental start-up Grabhouse in continuation with its approach of purchasing out rivalry. It had before obtained organizations like Commonfloor, Hiree, Stayglad to offer energy to its development story. Quikr did not uncover the money related terms required in acquisition of Grabhouse. The organization said the most recent obtaining will empower them to dispatch cashless rental arrangements through Quikrhomes.

Quikr chief operating office Atul Tewari said“We are very excited about the launch of our managed rentals model—it brings convenience to consumers while eliminating cash from property rentals, and we are excited to start it with the acquisition of Grabhouse,”

He also added that this move will benefit Quikr’s business with a unique competitive advantage because Grabhouse target market has a great match with many of other businesses of Quicker such as C2C and bikes. As far as costs are concerned costs of the business will directly get shared with their services business.

Grabhouse was founded in March 2013 by Prateek Shukla and Pankhuri Shrivastava .It has so raised about $13 million, with last round of funding of $10 Million from Sequoia Capital and Kalaari Capital in October 2015.

As per Quikr chief executive Pranay Chulet the listings on flats for rent available on QuikrHomes, its home vertical, and its subsidiary Commonfloor will be made available on GrabHouse, and will continue to function independently. Apart from this there will be synergies as the inventories which are available on QuikrHomes and Commonfloor will be available on GrabHouse.

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Madhurima Goyal, From ITvoir News Desk

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