Proptech Blox, Acquires Brokerage Justo 

Mumbai, Jan 5, 2024: Blox, a retail and mandate firm with proprietary AI powered platform Blox.xyz and CRM and Real estate focussed deep tech AI division Bloxlabs.ai, announced its acquisition of a controlling stake in Justo, a mandate brokerage firm. This acquisition enhances Blox’s consolidated mandate business Gross Transaction Value (GTV) to approximately INR 8,000 Crore this year, mentions a press release issued by the company.

Aditya Jhaveri, Founder and CEO- Blox, articulates, “This strategic acquisition is a leap towards revolutionising Indian real estate with AI. It signifies our commitment to expanding our innovative footprint across India and democratising cutting edge AI technology for all stakeholders in the real estate buying and selling journey, with the deepest focus on the homebuyer and value creation for the developer, channel partner and sales agent.”

Pushpamitra Das, Founder and Director of Justo, will continue to run Justo while also contributing to the whole group owing to his expertise and experience in the real estate space. Das commented, “Our collaboration with Blox is poised to set new benchmarks in the real estate services industry. With Blox, we have access to cutting edge technology, capital and mandates which will enable us to grow aggressively and pursue all India expansion of the mandate business over the next 12 months. Over the next 4 quarters, the mandate business will aim to do 800 transactions per month”

The group also plans to build a financial services company to further provide services such as digital payments, home loans and margin funding to its wide user base bundled with homebuying.