FastFox.com, the India-based home rental platform backed by internet company CyberAgent, has been purchased by real estate portal operator Elara Technologies for an undisclosed sum, Hindu Business Line has reported.
Founded in 2014, FastFox operates a rental brokerage platform through which users can peruse available properties under an open house model that allows them to visit in-person without making prior arrangements.
The company also offers on-ground assistance to landlords and prospective tenants. Elara will provide FastFox’s services in additional markets post-acquisition, building on the latter’s existing presence in the city of Gurugram. FastFox was valued at up to Rs 1bn ($14.5m) at the time of the acquisition according to Business Line.
CyberAgent Ventures, a corporate venturing subsidiary of CyberAgent, participated in FastFox’s $4.7m series A round in April 2017 alongside Lightspeed India Partners, Blume Ventures and undisclosed additional investors.
The company went on to raise $1.5m in a February 2018 series A1 round featuring Lightspeed India, Blume Ventures and company co-founder Pallav Pandey. The former had invested $945,000 in FastFox in 2015.