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NestAway Raises $30 Million From Tiger Global, Yuri Milner, IDG Ventures

NestAway Raises $30 Million From Tiger Global, Yuri Milner, IDG Ventures

By Press Trust of India | Updated: 18 April 2016 12:22 IST

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Ratan Tata-backed home rental company NestAway Technologies has raised around $30 million (around Rs. 200 crores) in a Series C financing led by Tiger Global, Russian billionaire Yuri Milner and IDG Ventures India.

Flipkart's former head of operations, Sujeet Kumar, also participated in the investment round, NestAway said Sunday in a statement issued in Mumbai.

"NestAway's mission is to make city housing available and affordable at scale. We are truly excited to see participation of our existing investors and welcome Yuri to the tribe," Amarendra Sahu, Co-founder and chief executive of NestAway, said.

Earlier this year in January, the Bengaluru-based startup had raised an undisclosed round from Ratan Tata, the chairman emeritus of Tata Group.

NestAway had previously raised over $13 million (roughly Rs. 86.6 crores) in capital over two rounds from marquee investors including IDG Ventures India, Tiger Global, Flipkart, Naveen Tewari and Kanwaljit Singh.

NestAway manages the end-to-end requirements of a rental property throughout its rental life cycle.

The company charges a small percentage of monthly rent it generates from the house as commission.

Further, it does not charge any brokerage or upfront fees to either the owner or the tenant, it said.

Amarendra Sahu, along with Smruti Parida, Deepak Dhar, and Jitendra Jagadev founded NestAway in January 2015.

The company expects to house a million Indians in the next 2-3 years.

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