NestAway operates co-living and student-living accommodations and has launched a new brand, Hello World, marking its debut into co-working. The company is expanding operations and using fresh capital to ramp up Hello World while fighting intense competition. NestAway has been raising a large Series D and so far secured tranches totaling $15 million. The firm faces competition from OYO Life, CoHo, Stanza Living and new JV plays such as Warburg Pincus and Lemon Tree’s Hamstede Living. Management and media reports have suggested the company is targeting a much larger, three‑digit million dollar round to defend market share. The co-living and co-working market is described as highly unorganised across major Indian cities and seen by some reports as a large future opportunity. NestAway operates a home-rental network that serves tenants and homeowners by sourcing tenants, collecting rent and managing properties in exchange for a percentage of the rental stream. The company charges no brokerage fee to either tenants or owners and acts as a broker and property manager. In May 2017 NestAway acquired Zenify and entered the family rental solutions business; it now also plans to expand into community housing and student housing. NestAway reports over 35,000 tenants and 16,000 owners, including more than 7,000 family owners, across major Indian cities such as Bengaluru, Delhi, Faridabad, Ghaziabad, Greater Noida, Gurgaon, Hyderabad, Noida, Mumbai and Pune. Financially, the company has raised nearly $100 million to date and completed a $51 million Series D in its latest round. Founded in 2015, NestAway continues to scale its rental and property-management offering. NestAway operates a platform focused on furnished homes in Indian cities, targeting young professionals seeking apartments in desirable locations. The company provides a range of services through its app, including moving assistance, rental payments, and basic repairs. It claims to have found homes for 10,000 tenants across Bangalore, Delhi, Pune, and Hyderabad. NestAway generates revenue by taking a percentage of each home's monthly rent. Its rental- and service-oriented model is positioned to weather slowing property sales and create annuity-like revenue streams. With the new capital, the company plans to extend its marketing focus to families. Nestaway Technologies is a Bangalore-based startup founded in January 2015 by Amarendra Sahu, Smruti Parida, Deepak Dhar and Jitendra Jagadev. It operates a managed home rental marketplace that converts for-rent apartments into managed, fully-furnished houses and provides them to pre-verified tenants. The company initially targeted single working professionals but has since forayed into the family segment. Nestaway competes with platforms such as Zocalo’s CoHo Stayz and sits in an Indian online realty market alongside players like 99acres and MagicBricks. Financially, Nestaway raised Rs 76 crore (approximately $12 million) in July of the prior year from Flipkart and Tiger Global, and subsequently received an undisclosed investment from Ratan Tata. The company says it expects the new capital and Tata's guidance to help with its next phase of growth. Nestaway Technologies operates an online managed home-rental marketplace that converts for-rent apartments into fully furnished, managed houses for pre-verified tenants, targeting singles such as working professionals and students. The company handles tenant sourcing, rent collection, maintenance, move-outs, and offers free minor repairs while not charging separate brokerage from property owners. Nestaway is Bangalore-based and has listed accommodations in Bengaluru. The startup plans to expand operations to new cities and improve its technology platform, with explicit plans to foray into Pune and Gurgaon. Financially, Nestaway recently raised Rs 76 crore (approximately $12 million) from Flipkart and Tiger Global, and earlier in March raised about Rs 8 crore ($1.25 million) from IDG Ventures and a group of angel investors including InMobi founder Naveen Tewari.

Total raised

$98M

Funding rounds

6

Latest round

Series D

Latest activity

Jun 2019