Home rental startup NestAway raises $51M in Series-D funding

By : |March 5, 2018 0

Home rental network NestAway has raised $51 million (about Rs 330 crore) from investors including Goldman Sachs and UC-RNT Fund, a joint venture between Ratan Tata’s RNT Associates and the University of California.

As part of the deal, Goldman Sachs invested $19 million through its Indian and Hong Kong-based investment arm in primary as well as secondary capital. UC-RNT Fund poured another $16 million in the Bangalore-headquartered company. Apart from that, existing investors – including Tiger Global and IDG India – also participated in the financing round.

“We will use this round of funding to increase the density of our portfolio in the existing markets besides expanding our operations in our most recent category—managing homes for NRIs (non-resident Indians). We will also foray into newer areas that include community living and student accommodation,” said Amarendra Sahu, co-founder and CEO of Nestaway

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Founded in 2015, NestAway caters to individuals looking for affordable rental housing in the top 10 cities in India. The company, through the acquisition of Zenify in May 2017, has also entered the family rental solution business.

NestAway currently caters to over 35,000 tenants and 16,000 owners, including over 7,000 family owners in Bangalore, Delhi, Faridabad, Ghaziabad, Greater Noida, Gurgaon, Hyderabad, Noida, Mumbai and Pune.

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