Home rental startup NestAway in talks to raise ₹720 crore in fresh funding

Must Read

Howdy, Modi! : World media reactions on Modi-Trump’ grand Houston Event address

New Delhi, Sep 23: United States President Donald Trump and Indian Prime Minister Narendra Modi on late Sunday shared...

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...

Bengaluru-based home rental startup NestAway is reportedly in talks with investors to raise around ₹720 crore ($100 million). The funding round is expected to reach around ₹1,080 crore, owing to growing investor demand, as reported by LiveMint.

The reports are yet to be confirmed by NestAway.

The news comes less than a month after SoftBank-backed global hotel chain OYO announced its foray into housing rental with ‘Oyo Living’, to offer co-living spaces to young professionals.

NestAway was founded by Amarendra Sahu, Deepak Dhar, Jitendra Jagadev, and Smruti Parida in 2015. The startup provides a managed home rental network, to offer better rental solutions by leveraging technology.

The home rental startup enables customers to find, book, and move-in to a rental home in their budget, in a hassle-free manner, using its platform. It is operational across twelve Indian cities including, Bengaluru, Delhi, and Noida.

In August 2018, NestAway raised an undisclosed amount of funds in a funding round from Epiq Capital.

So far, the startup has raised more than $90 million, across multiple funding rounds, according to Crunchbase. NestAway also counts Goldman Sachs, Ratan Tata‘s UC-RNT Fund, and Chiratae Ventures, among its investors.

Other home rental startups competing with NestAway include New Delhi-based Stanza Living, Gurugram-based ZiffyHomes, Bengaluru-based NoBroker, CoLive, StayAbode, QuikrHomes, Zocalo, and CoHo Stayz, among many others.

Earlier in September 2018, Stanza Living raised ₹73 crore in a round led by Sequoia Capital.

In August 2018, ZiffyHomes raised ₹82 lakh from Y Combinator.

The home renting space is pegged at $32 billion, according to FastFox, a home rental startup. The demand for student accommodation has been on the rise and many startups are looking to bridge that gap.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Siddharth Malhotra gives serious fitness goals with THESE latest pictures

Actor Siddharth Malhotra is one of the most good looking faces working in Bollywood. He also has a great...

NCA head Dravid training budding cricketers from 16 countries

New Delhi, Oct 17 (IANS) The Board of Control for Cricket in India, in conjunction with the ministries of sports and external affairs, is...

Best Need For Speed HD Wallpapers Download with 4k resolution

Need For Speed is EA's(Electronic Arts) one of the most iconic game series. NFS is a racing game, mainly focused on illegal street racing....

2-wheelers exempt from odd-even, Rs 4K fine on violations

New Delhi, Oct 17 (IANS) Delhi Chief Minister Arvind Kejriwal on Thursday listed out certain dos and don'ts for the Odd-Even scheme, which is...

‘Satellite Shankar’ trailer starring Sooraj Pancholi and Megha Akash released

Sooraj Pancholi, the son of yesteryear actor Aditya Pancholi and the critically acclaimed actress Zarina Wahab made his debut in the 2015 romantic film...
- Advertisement -

More Articles Like This