PE Fund Investments
HDFC Capital Advisors acquires 7.20% in proptech co Reloy for Rs.1.1 Cr
HDFC Capital Advisors is to acquire 7.2 % stake (represented by 3,90,666 equity shares) in Kolkata-based real estate digital amenities provider Reloy (Loyalie IT Solutions Pvt Ltd) for INR 1.1 crore. Founded by Akhil Sharaf in 2018, Loyalie, Reloy works with builders to create customer loyalty programs. The company's turnover rose to INR 2.02 crore in FY21 from INR 1.33 crore in the previous fiscal. The startup has presence in more than 10 cities and claims to be working with Godrej Properties, Mahindra Lifespace Developers and Shapoorji Pallonji Real Estate, among others.
From the Venture Intelligence Angel Deal Database: In Nov-21, Reloy (formerly Loyalie) had raised INR 5 crore led by Inflection Point Ventures, Fawkes Fund, family office of Greenpanel & Greenlam, and more than 50 angels.
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