NestAway raises fund from Goldman Sachs and others

NestAway Technologies has raised US$51 million (Rs.330 crore) in series D financing from Goldman Sachs, and the HK and UC-RNT Fund, a joint venture between Tata Sons’ Chairman Ratan Tata's RNT Associates and the University of California and Schroder Adveq. This round also saw participation from its existing investor IDG India and Tiger Global.

Founded in 2015, NestAway is the market leader of “furnished shared rental”, a rental solution it pioneered that 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 recently entered the family rental solution business.

Under its business model, NestAway is a one-stop service provider for tenants and house owners where neither has to pay any brokerage fee. The company serves as a broker and property manager for home owners by helping to find tenants, collect rent and manage the property over its lifetime in exchange for a percentage share of the rental stream. With its technology-enabled platform and sophisticated data analytics capability, NestAway today 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.

Amarendra Sahu, Co-Founder & CEO, NestAway Technologies, said, “Our vision is to create accessible living using imagination and empathy and we have been humbled by the market acceptance of our shared as well as family rental solution. With this funding, we shall strive harder to impact not only where people live but also how they live and shall work on community housing and student housing in addition to our existing categories. We are glad that our new partners in this journey share our vision and passion to create unique living infrastructure in this country using design and technology."