Aurum PropTech Ltd on Tuesday said it has acquired assets and a technology platform from MYRE Capital, which facilitates investors in fractional ownership of commercial properties.
Aurum PropTech, which is listed on stock exchanges, launched Aurum WiseX, a digital distribution vertical for real estate investments, the company said in a statement.
It did not disclose the structure and value of the deal.
Aryaman Vir, former founder & CEO of MYRE Capital has been appointed as the CEO of Aurum WiseX.
As per the planned transition, the existing MYRE Capital team, tech stack, customers and partners will be migrated to the new vertical Aurum WiseX.
Under Aurum WiseX, the first platform will be ‘YieldWiseX’, which will offer commercial real estate and Lease Rental Discounting (LRD) structured debt along with other innovative frameworks for its customers.
Ramashrya Yadav, Director of Aurum PropTech and Founder of Integrow Asset Management, said, "Setting up Aurum WiseX is a key step towards strengthening our capital cluster under Aurum’s flourishing PropTech ecosystem."
Aryaman Vir, CEO of Aurum WiseX, said, "...the strategic transaction marks a crucial step towards scaling our vision and platforms. This will be a great opportunity for both entities to leverage their collective strengths and expertise."
"Our vision is to become a global leader in commercial real estate and alternative investments, under ‘Aurum WiseX’. With a focus on value creation, innovation and expansion, we aim to offer high-yield investment opportunities through our tech-enabled platform, YieldWiseX," he added.