Aurum Proptech invests $5 million in TheHouseMonk

TheHouseMonk is a B2B SaaS startup focused on the rental real estate industry. It has raised $5 million in a combination of stock and debt from Aurum PropTech Ltd. TheHouseMonk intends to utilize the cash to expand into Europe and the United States and strengthen its position in Asia, which is now its primary market. To establish sophisticated AI/ML (artificial intelligence/machine learning) skills and expand its comprehensive product line, the company wants to hire its tech staff actively.

“We are very excited to partner with Aurum PropTech as we continue building the de-facto platform for the rental real estate industry. Adoption of technology has increased significantly due to the pandemic as landlords, property managers, and tenants are looking for digital solutions to manage their relationship, and our platform is perfectly positioned to serve this growing need in the market,”

Ajay Kumar, Co-Founder and CEO of TheHouseMonk

Rental housing is expanding, thanks to the Millennial and Gen Z behavioral patterns and the rise of the IT-ITES business. It has opened up a big market for structured and new-age coliving and student housing operators looking to expand their operations. Private equity firms are investing heavily in single-family rental homes, while co-living and student housing providers have recently garnered considerable funds from venture capital firms. TheHouseMonk’s software solution is an excellent platform for organizing and scaling up their enterprises for these players.

“Over the past few months, we have been on an inorganic growth spree, and TheHouseMonk is another addition to our list of products and services enabling the creation of the entire PropTech value chain. We find TheHouseMonk as a great fit for enhancing efficiency in the residential rental business. It provides a compelling proposition for property owners and managers to monetize, maintain and manage their rental portfolio through its technology platform.”

Ashish Deora, Founder and Chief Executive Officer of Aurum Ventures
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