Company Name : NestAway
Funding Amount : $30 million
Investor(s) Tiger Global Yuri Milner. Sujeet Kumar.
Funding Round : Series C
Bangalore-based NestAway, player in the ‘managed’ home rentals market, has raised $30M in a Series C financing led by Tiger Global, Yuri Milner, the Russian billionaire investor / founding partner of DST Global and IDG Ventures India. Flipkart’s former head of operations, Sujeet Kumar, also participated in the investment round.
Earlier this year in January, NestAway had raised an undisclosed round from Ratan Tata, Chairman Emeritus, Tata Group. NestAway had previously raised more than $13 million in capital over two rounds from marquee investors including IDG Ventures India, Tiger Global, Flipkart, Naveen Tewari & Kanwaljit Singh.
NestAway manages a house-owner’s rental property throughout the rental life cycle starting from showing the house to the prospects, closing the rental agreement to collecting rent on the owner’s behalf and assisting the tenant and owner during move-out. The company charges a small percentage of monthly rent it generates from the house as commission; NestAway does not charge any brokerage or upfront fees to either the owner or the tenant.
Now present in Bangalore, Delhi, NCR, Pune and Hyderabad, NestAway hosts more than 10,000 tenants across these cities. Until recently, NestAway counted single working professionals among its target audience; now the company is also targeting the family segment.
Amarendra Sahu, Smruti Parida, Deepak Dhar, and Jitendra Jagadev founded NestAway in January 2015.
Amarendra Sahu, Cofounder & CEO of NestAway, said, “NestAway’s mission is to make city housing available & affordable at scale. This is akin to solving for good roads or water in a city that requires partners who are equally inclined to help build a fundamental social infrastructure in India. We are truly excited to see participation of our existing investors & welcome Yuri to the tribe. Together, we will reimagine housing for India with empathy.”
Nestaway is the first start-up of its kind and is simplifying the whole process of getting good accommodation for singles/bachelors and families in Bangalore, Delhi NCR, Pune and Hyderabad.
Nestaway was founded by NIT Suratkal alumni Amarendra Sahu, Smruti Parida, Deepak Dhar, and Jitendra Jagadev in January 2015.