Aurum Proptech invests $5M in TheHouseMonk

Aurum Proptech Ltd. board has approved an investment of $5 million in TheHouseMonk, a business-to-business (B2B) Software-as-a-Service (SaaS) startup in the real estate industry.  Launched in 2019 by Ajay Kumar and Balaji Varadharajan, TheHouseMonk’s technology platform helps property managers and landlords monetise, maintain and manage their rental portfolio. It has a portfolio of 100 clients across 15 countries. “We found TheHouseMonk as a great fit for optimising efficiency in the residential rental business with the compelling proposition being property managers being able to operate the platform,” said Ashish Deora, Founder and CEO of Aurum Ventures, the parent company of Aurum PropTech. The HouseMonk had a turnover of about $144,184 in the financial year 2021, double the revenue in the previous year.  The deal is one of the series of investments Aurum has been making into property-technology, proptech, startups in the country since property developer Aurum Group bought a promoter’s stake in what was earlier known as Majesco. At present, the group owns a 35 percent stake as promoter in Aurum Proptech, which is listed on the Bombay Stock Exchange (BSE).