Blox buys 11% stake in Property Brokerage Guardians for $12 million

14 Nov 2024 CW Team

Digital real estate platform Blox has acquired an 11% stake in property brokerage firm Guardians for $12 million, with plans to increase its share to 50% over the next three years. "This acquisition establishes Blox and Guardians as India's largest real estate seller, overseeing annual sales of around 25,000 homes with a consolidated gross transaction value (GTV) of $2 billion in the primary residential market," Blox stated.

Blox aims to expand its GTV five-fold to $10 billion within 3-5 years. The platform supports both direct-to-consumer (D2C) and broker-led B2B2C models, allowing homebuyers to purchase properties entirely online. Founded in 2020 by Aditya Jhaveri and Shivani Karia Jhaveri, Blox combines advanced AI and broker support to streamline the real estate experience. It is backed by $35 million in funding from prominent investors such as CRED founder Kunal Shah and Tinder co-founder Justin Mateen.

Guardians, founded in 2016, has launched 174 projects, sold 23,000 units, and achieved $5.54 billion in sales. Blox’s Founder and CEO, Aditya Jhaveri, expressed his vision to revolutionise the Indian real estate market, emphasising that integrating Guardians will enhance the homebuying experience and establish India’s first platform that supports both D2C and B2B2C sales—a "game-changer" for reaching developers and homebuyers alike.

Jayesh Rathod, Director of Guardians, remarked that this partnership is set to redefine India’s real estate landscape, combining Guardians' market knowledge with Blox’s technology to raise standards of transparency, efficiency, and service.

(ET)

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