Suresh Rangarajan is a chartered accountant with a business degree from Yale. But there is more to him than that. He is the founder and CEO of CoLive, an app-powered co-living business based in Bengaluru, currently operating 3,000 beds. It caters to couples, working singles and students and is all set to become a pan-India brand.
CoLive takes up entire building towers and refurbishes them into smart rooms with new and sturdy furniture which are taken by individuals or on twin-sharing basis. The platform also has couple friendly studios and pet-friendly dwellings. Suresh elaborates, “It is about luxury, style and most importantly, community. We keep the CoLive community together by bringing them together to celebrate festivals, party, engage them culturally by offering workshops and activities like yoga, zumba etc. We also organise jam sessions for budding musicians and professionals.”
Suresh works out of his Outer Ring Road head office, where he is neighbour to some of the biggest IT companies boasting a population of more than six lakh workforce.
This banker-turned-entrepreneur, after his stint in Citibank, joined timesofmoney.com. He led the remit2india.com team to become the world number one online money transfer portal. It then dawned on him that he should start his own entrepreneurial journey.
Says he, “I founded Artha money, an online brokering platform, and expanded into a real estate company. I was awarded the Udyog Rattan in recognition of the same.” While Suresh was part of the real estate landscape, he began to see a huge scope for shared living. “On one side, the developers were facing a huge challenge of unsold apartments and villas and on the other, millennials were finding it a challenge to find comfortable and cost-effective housing.”
In 2016, he started CoLive. He felt that the youth travelling to the metros found it difficult to find decent living at a good budget. The paying guest system was not organised and house owners wanted only families as tenants. “This is where CoLive comes into the picture. We not only provide them housing, but a platform to raise their standard of living, without compromise on lifestyle or budget,” shares the 46-year-old.
About 10 main locations are covered in Bengaluru itself. They have also expanded to cities such as Chennai, Vellore, Thanjavur and Ahmedabad. “We cater to not only students and working bachelors, but also working couples,” says Suresh who takes pride in supporting young couples find affordable, hassle-free accommodation. His goal is to reach one million beds. “We have gotten recently funded and are in discussions with many property owners.”
What is CoLive
CoLive is a tech powered company run by a staff strength of 80 based in Bengaluru. Customers can book a room, schedule a visit on the app or on their website. They provide fully furnished residences either on twin-sharing or single-room basis. Services such as six-day housekeeping, power backup, free WiFi, TV with free DTH and app-based communication for services rectification are provided by the platform.