Home rental start-up NestAway Technologies on Thursday said it had raised $51 million (₹332 crore) in a series D financing from investment bank Goldman Sachs and UC-RNT Fund. Existing investors IDG India and Tiger Global also participated in the round. UC-RNT is a joint venture between Ratan Tata’s RNT Associates and the University of California.
Community housing
“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,” said Amarendra Sahu, co-founder and CEO, NestAway, in a statement.
The Bengaluru-based company said it catered to more than 35,000 tenants and 16,000 owners, including more than 7,000 family owners in major cities in the country. “We look forward to partnering with them to bring greater levels of convenience, transparency and service to both home-owners and home-renters throughout India,” Niladri Mukhopadhyay, a managing director at Goldman Sachs, said in a statement.
NestAway said about a million homes remained locked as owners could not find an easy and seamless way to rent their homes.
