Nestaway, 'Managed Home Rental' Player

Published: 22nd February 2016 06:30 AM  |   Last Updated: 22nd February 2016 06:30 AM   |  A+A-

Here’s an opportunity for the homeowner who aims to gain more from rentals than the existing market rates.

A Bengaluru-based startup Nestaway hopes to get the homeowner a rent that’s about 30% higher than the prevailing market rates. They offer fully-furnished accommodations to a newcomer to the city who has come to the city after landing a job. It often furnishes the homes on its own.

For a newcomer, merely finding a place to stay can seem like a daunting task. Nestaway, the online home rentals startup which is an online marketplace for shared accommodation for singles, has made it that much easier for such individuals.

Nestaway uses technology to provide better rental solutions to singles in the cities.

It turns unfurnished houses into fully-furnished homes and managed apartments, and offers them at affordable prices to tenants.  Nestaway is today India’s fastest growing “managed home rental” player.

Founded by NIT Suratkal alumni Amarendra Sahu, Jitendra Jagdev, Smruti Parida and Deepak Dhar, NestAway provides better rental options and higher income for house/flat owners and on the other hand hassle-free, fully furnished and ‘ready-to-occupy’ houses for singles. They found an opportunity in such a venture after they themselves experienced difficulties when moving into their new jobs.

Nestaway, which has about 400 people on its rolls, had recently raised $12 million Series A funding from Tiger Global and Flipkart.

In March last year, Nestaway had raised $1.25 million from IDG Ventures and angels including InMobi founder Naveen Tewari.

Deepak Dhar, Chief Business Officer, Nestaway, told Express, “Nestaway currently operates in Bengaluru and Gurgaon and will soon launch in Pune and Hyderabad.”

It has signed up many a company to offer their new joinees a place to stay without the company or the individual having to worry.  It also offers accommodations for even families that have just moved into the city.

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