M&A
Digital realty platform Blox acquires 11% in advisory firm Guardians for $12-M; to increase stake to
Digital real estate platform Blox has acquired a 11% stake in advisory firm Guardians for USD 12 million (about INR 101 crore), with plans to increase its ownership to 50% over the next three years. This acquisition will bring together Blox and Guardians, managing annual sales of around 25,000 homes with a consolidated Gross Transaction Value (GTV) of USD 2 Billion in the Indian primary residential market.Founded in 2020 by Aditya Jhaveri and Shivani Jhaveri, Blox has raised USD 35 million from investors such as Cred’s founder Kunal Shah and Tinder’s co-founder Justin Mateen.Guardians, started in 2016, has so far worked on 174 projects in Mumbai with 23,000 apartments sold. The company claims to be associated with 86 developers with a network of 18,168 channel partners.
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