NestAway is the latest real estate startup in India to announce funding. The site, which focuses on furnished homes in cities, has raised a $30 million Series C led by Tiger Global, with participation from Yuri Milner (founder of DST Global), IDG Ventures India, and Sujeet Kumar.
This brings NestAway’s total funding so far to about $43.2 million, according to CrunchBase. Other real estate listing companies that have raised significant amounts of venture capital recently include Housing, PropTiger, and Quikr.
NestAway’s niche, however, is helping young professionals, many living on their own, rent apartments in desirable locations. Then it provides them with a host of services through its app, including moving, rental payments, and basic repairs. It currently claims to have found homes for 10,000 tenants in Bangalore, Delhi, Pune, and Hyderabad. The company makes money by taking a percentage of each home’s monthly rent.
It focus on rental properties and value-added services may help NestAway weather slowing property sales. NestAway will extend its marketing focus to families with its new capital.
In a press statement, Tiger Global partner Lee Fixel said, “NestAway’s customized strategy has demonstrated the potential to transform India’s rental housing market by leveraging a long-term view of the owner-tenant relationship. By emphasizing the highest quality of customer service and satisfaction, NestAway is developing an annuity-based e-commerce model at scale.”