ZiffyHomes acquires home rental platform Nivaasa

Home rental service startup ZiffyHomes has acquired Gurgaon-based home rental platform Nivaasa in an all-cash deal.

"The acquisition will help to expand in the premium category apartments across India, given that they are currently based in Delhi NCR," ZiffyHomes said in a statement. The terms of the acquisition were undisclosed.

The acquisition will add 12 community Hubs to ZiffyHomes' rental business in Gurugram. The Ziffy Technologies platform currently has close to 2,000 rooms along with a supply of around 500 studio apartments listed on it across Delhi/NCR.

ZiffyHomes had recently raised seed funding of Rs 2 crore from individual investors. It had earlier acquired competitor Fella homes to become one of the largest aggregators of rental properties in Delhi NCR.

Nivaasa, which currently operates in Gurgaon, Delhi, Mumbai, and Bangalore offers a professional way to rent a home. It created its own furnished living spaces and provides a house hunting service to home seekers looking for rentals in the open market. Apart from this, the company also provides furnished and rental homes to people and allow them to customize the amount of furniture they desired to rent.

Nivaasa was founded in 2016 by Louis Pereira, Reuben Noronha, and Gaurav Sood. Prior to starting Nivaasa, the three founders have worked in the consulting industry at Bain & Co, McKinsey & Co, and Essex Lake Group.