Property brokerage firm Square Yards, which is backed by Anil Ambani-led Reliance Group, has acquired Mumbai-based rental platform Azuro as part of its expansion plan, a top company official said.
Founded in 2016 by IIT Bombay alumni Altaf Ahmad, Sushant Kumar, Sudhanshu Mishra, Ayush Agrawal and Vishal Chauthmal, Azuro offers rental and property management solutions. It helps in finding a tenant, background checks, automated rent collection, property maintenance and tenant exits.
The entire team of Azuro, including its co-founders, have joined Square Yards and will continue to operate under the larger umbrella with the same brand name.
Square Yards founder and CEO Tanuj Shori said, "Square Yards is building an integrated intermediary ecosystem for the real estate industry and this requires the best of technology and talent. Azuro's innovative approach in grabbing market share in the large rentals and property management sector gives us opportunity to add synergies to the current value chain."
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