Bangalore based BuildTraders, a building materials trading company, has acquired Pune based property management startup Cozilla in an all-stock deal.
Post acquisition, the entire team of Cozilla will join BuildTraders. Also, Cozilla will phase out its current rental property management operations in India and may expand to UAE in near future.
Cozilla was founded in 2015 by Yogesh Pawde, Aditya Joshi, Shubham Choudhary and Ranjeet Gakhare. It aims to provide rental property management solutions for bachelors, though its technology enabled platform. The portal provides fully furnished homes on sharing basis with zero brokerage charges. And for property owners, the team ensures timely rental payments, and verified tenants. The startup was bootstrapped till date.
As claimed by Yogesh, the company has achieved 100% MoM growth over a period of last 6 months. The company was serving more than 100 customers per month with an average monthly revenue of INR 5 Lakhs at the time of acquisition.
BuildTraders, was launched by Ranjeet Gakhare along with Ashwin Srivastava in April 2016. It aims to make the process of building homes hassle free for both individuals and builders by providing one stop solution for curated construction materials procurement.
It is currently working offline in supply of building materials and materials guidance for construction projects based on the budget of builders or builder-owners. It is in the process of expansion into online space and has been in lookout for expansion of its top management team.
“BuildTraders is aiming to provide one stop solution for construction materials in Indian market, in the form of selected quality curated products and appropriate guidance. With the acquisition of Cozilla, BuildTraders has gained a strong team that was already working in the real estate segment,” said Ranjeet.
According to PwC report, Indian construction industry is the second largest contributing industry to India’s GDP. Construction material supplier business is largely unorganized.