Elara Tech raises $35 million in debt financing from Citi Singapore

Elara Tech raises $35 million in debt financing from Citi Singapore

News Corp-backed Elara Technologies, which owns and runs Housing.com, PropTiger.com, and Makaan.com, has raised $35 million in debt financing from Citi Singapore. This is the first debt financing for the company which has so far raised $105 million in equity. Elara Technologies will use the capital to accelerate growth by investing in building the brand and boost its product, technology, and sales teams. The group is looking to add 150 members to its sales and technology workforce taking the entire count to 1,500. Performance wise PropTiger.com saw traffic grow 93% even as revenues grew 40% during the first half of 2018 as compared to last year while Housing.com’s revenue more-than-doubled in FY18 growing 110% in revenues and 75% in traffic. Makaan.com saw a 300% growth in the first six months of 2018 with about 9,00,000 properties listed across the country.

Read More at The Economic Times News date : 21 Aug 2018, Tuesday

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