FCC

Aurum PropTech acquires MYRE Capital’s platform

2023-05-09

Aurum PropTech acquired MYRE Capital's assets and technology platform and launched Aurum WiseX, a digital distribution vertical for real estate investments. Aryaman Vir, former Founder and CEO of MYRE Capital, has been appointed as the CEO of Aurum WiseX.

The new platform will leverage technology to provide risk-adjusted institutional-grade investment products to its rapidly growing customer base.

"Setting up Aurum WiseX is a key step towards strengthening our Capital cluster under Aurum's flourishing PropTech ecosystem," said Ramashrya Yadav, Director of Aurum PropTech and Founder of Integrow Asset Management. We've always wanted to harness the power of technology in the real estate sector, and the investment space provides a great opportunity to do so. India has the world's fastest-growing economy. We believe there will be a surge in interest in real estate investing. The Aurum WiseX platforms and incoming team led by Aryaman Vir are poised to capitalize on this demand by leveraging technology."

The first platform under Aurum WiseX will be 'YieldWiseX,' which will provide commercial real estate and lease rental discounting structured debt and other innovative frameworks to its customers. The existing MYRE Capital team, technology stack, customers, and partners will be migrated to the new vertical, Aurum WiseX, as planned. "We are delighted to begin our new journey with Aurum PropTech, and the strategic transaction marks a critical step towards scaling our vision and platforms," said Aryaman Vir, CEO of Aurum WiseX. This will be an excellent opportunity for both organizations to leverage their combined strengths and expertise. Our goal with 'Aurum WiseX' is to become a global leader in commercial real estate and alternative investments. We intend to offer high-yield investment opportunities through our tech-enabled platform, YieldWiseX, with a focus on value creation, innovation, and expansion."

For more than Rs 61 crore, the company recently acquired Goldman Sachs-backed Nestaway's co-living subsidiary HelloWorld Technologies India and estate data analytics company CareerSocially.