Property portal NoBroker acquires Society Connect

This acquisition is among the first by NoBroker since it launched in 2014.

Real estate portal NoBroker, which raised $101 million in Series C and D rounds last year, has acquired Gurugram-based Society Connect in an all-cash deal.

With this acquisition, NoBroker aims to further strengthen its influence in the visitor and community management space, where it has already established a presence with its app NoBrokerHood. This is NoBroker’s first acquisition since its inception in 2014. The financial details of the acquisition were not disclosed.

This acquisition — wrapped up in two months without the involvement of any banker — comes two months after NoBroker launched its services in Delhi-NCR.

Society Connect is a technology mapped platform for society management, with a strong position in Delhi-NCR and adjoining regions with over 500 societies (apartment complexes) using its platform. All 28 employees of Society Connect will now join NoBroker’s 800-strong team.

Akhil Gupta, Co-Founder and CTO of NoBroker.com, said:

“Society Connect’s accounting and payment solutions are unparalleled and will strengthen NoBrokerHood’s suite of services, to make it a single software for a host of services such as accounting, facility management, security, maintenance requests, communication and visitor management requests that enhance the living experience in societies."

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