Blox, a digital real estate platform, has acquired an 11% stake in Guardians for $12 million, with a planned increase to 50% ownership within three years. This move positions Blox and Guardians among India’s top real estate sellers, managing around 25,000 annual home sales with a combined Gross Transaction Value (GTV) of $2 billion in the primary residential sector.
Blox aims to expand its GTV to $10 billion over the next 3-5 years, aligning with India’s growing real estate market, projected to exceed $1 trillion by 2030. As India’s first platform to integrate Direct-to-Consumer (D2C) and Business-to-Business-to-Consumer (B2B2C) models, Blox seeks to streamline interactions among developers, brokers, and buyers.
Founded in 2020 by Aditya Jhaveri and Shivani Karia Jhaveri, Blox offers a digital solution for homebuyers to purchase properties entirely online. Supported by $35 million in investments from notable backers such as Kunal Shah (CRED) and Justin Mateen (Tinder), Blox combines artificial intelligence with a broker-assisted B2B2C model to enhance the user experience.
The platform’s hybrid approach integrates brokers while maintaining a direct-to-consumer experience for buyers by listing and selling inventory directly from developers. This model simplifies transactions, benefiting both buyers and developers.
Guardians, founded in 2016, has been instrumental in Mumbai’s real estate market with 174 project launches and 23,000 units sold, achieving a sales turnover of $5.54 billion. Guardians has developed extensive connections with 86 developers and over 18,000 channel partners. Through this acquisition, Blox broadens its reach and distribution capacity in the real estate market.
As part of its growth strategy, Blox will spin off its real estate development and management divisions into a separate entity to focus on technology-driven operations. With a projected EBITDA profitability of 20-30%, Blox anticipates strong investor interest, positioning it as a potential IPO candidate within India’s digital real estate sector.
“Our goal is to modernize India’s real estate market by creating a transparent, seamless experience for buyers, brokers, and developers,” said Aditya Jhaveri, CEO of Blox. “By integrating Guardians, we are enhancing the buying process and creating India’s first platform to support both D2C and broker-led B2B2C transactions, bringing increased flexibility and reach for developers.”
Jayesh Rathod, Director of Guardians, commented, “This partnership with Blox will elevate the real estate market in India, combining Guardians’ industry knowledge with Blox’s technology to set new standards for transparency and efficiency.”
With its strategy to reach $10 billion in GTV over the next few years, Blox is positioned to attract investor interest as it continues to redefine India’s residential real estate landscape, paving the way for a public listing.
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By Proptechbuzz
By Ravi Kumar
