For all these services, the company charges the owners a fixed percentage of 12.5% of the total rent generated by the house as a commission. NestAway does not charge brokerage fees or fees to tenants other than rent After a $51 million Series D financing raised in March 2018, NestAway`s valuation was approximately $200 million. After that, they raised two more rounds of funding. However, the exact net worth or valuation has not been confirmed by the company. The company serves as a broker and property manager for landlords by helping to find tenants, collect rent, and manage the property over its lifetime in exchange for a percentage of the rental electricity. In February 2020, the company acquired the apnaComplex apartment management platform. ApnaComplex is a 10-year start-up and the platform offers tools to manage various aspects of residential complexes such as organizing public events, filing complaints, accounting/accounting of the company and much more. The company will now offer in-home services such as cleaning, painting, pest control, etc. to registered ApnaComplex users. Smruti Parida is co-founder and CTO of NestAway. Smruti graduated in Computer Science from NIT Karnataka. He worked at Microsoft and United Online before dedicating himself to the company.
According to a recent update, Smruti left the company on October 23, 2019.NestAway is India`s fastest growing “home rental network,” offering better rental solutions through design and technology. The units are within walking distance in the houses and with different schemes based on the requirements of the tenant – a bed, a room or a complete house. From 1 BHK apartment to 8 BHK luxury villas with state-of-the-art amenities, the company caters to all kinds of guests` needs. The houses are equipped with a cot, mattress, sofa, TV, fridge, washing machine and furnished kitchen. In addition to fully furnished apartments, semi-furnished and unfurnished apartments are also listed on NestAway. The company takes care of the documentation and preparation of the legal agreement, the collection of rents and offers its owners a guarantee of loss of rent.    Landlords receive insurance of up to Rs 1 crore in case of damage during a tenant`s stay.  Deepak Dhar graduated in Computer Science from NIT Karnataka.
He was responsible for the product and user experience. Prior to NestAway, he worked with companies such as Aceva Technologies, Fidelity Investments and the Royal Bank of Scotland. He also led Citruspay (acquired by PayU) as Chief Operating Officer. Deepak Dhar left Nestaway in June 2019 to start a fintech company, but he will continue to be a director of the company. The best thing for landlords is that the company makes sure that the rent is paid before the 5th of each month. NestAway plans to introduce “smart homes” by introducing the smart lock service in all homes. Smart Lock is a security locking system that ensures the safety of people who are in their homes, especially women. This service will be available in their app for Android and iOS devices. The company plans to enter the women`s housing and seniors` residences sector by 2020. Nestaway Technologies Pvt.
Ltd., popularly known as Nestaway, is an online managed home rental network that offers accommodation to singles and families.  The company was founded in January 2015 by Amarendra Sahu, Deepak Dhar, Jitendra Jagadev and Smruti Parida.   Nestaway offers shared rooms, full rooms, and full homes for rent through its app and website.   Users can opt for unfurnished, partially furnished or fully furnished houses.  The app can be used to use on-demand services such as home repairs and maintenance.  One of the biggest challenges for the company was finding the right investors, as this was the first transaction in the field and some skepticism. Now, it is one of the best-funded Indian startups. In the wake of COVID-19, Bangalore-based home rental startup NestAway has taken various measures to support its users and owners.
First, the company is reducing integration fees by 50% for anyone who had planned to move into Nestaway`s properties before the lockdown was imposed. In Bangalore, where rent advances are usually 10 months, the company offers homes with two-month deposits. The company claims to generate about $2 million in monthly revenue. The company receives a commission of 12.5% in each lease. Some landlords do not agree to give the house two months` rent as a deposit of money and expect more. In this scenario, as a tenant, you have to pay two months` rent and the company pays the difference. Amarendra wanted to solve this problem and started setting up NestAway with the help of friends. In June 2014, the home of his friend Jitendra Jagadev in Whitefield became the site of an experiment. According to Wikipedia, NestAway experienced lower revenue growth in 2017-2018 than in 2016-2017. Sales increased by 533% in 2016/2017, while they increased by only 28.7% in 2017/2018. According to the ROC filing, operating income for the 2018 financial year amounted to Rs 46.98 crore.
Again, losses rose from Rs 134.24 crore in 2016-2017 to Rs 203.79 crore in 2017-2018. NestAway has acquired 3 organizations. Their most recent acquisition was StayAbode on March 2, 2020. NestAway – News about NestAway and how nestAway works – NestAway Founder and Team – How it got NestAway started – NestAway Services – NestAway Business Model – NestAway Revenue Model – NestAway Financing and Investors – NestAway Annual Revenue/Revenue – NestAway Growth/Valuation – NestAway Partner – NestAway Acquisitions and Mergers – NestAway Challenges – NestAway Competitors – NestAway Future Plans – NESTAway FAQ was co-founded by Amarendra Sahu, Smruti Parida, Deepak Dhar and Jitendra Jagadev in 2015 Another nestAway goal will be student housing. With 10.4 million migrant students and only 6.1 million beds as the current official offer, the demand for student housing is increasing, which continues to increase day by day. They are taking advantage of this opportunity, focusing heavily on student housing and aiming to start operations in Kota (Rajasthan), followed by Delhi (North Campus) and Bangalore. NestAway is also looking to expand PAN India, and discussions are underway with progressive builders for exclusive student properties. Amarendra Sahu is CEO of NestAway. He is a computer engineer from NIT Surathkal and holds an MBA from IIM-B. Jitendra Jagadev is COO of NestAway. He graduated from NIT Karnataka, worked with companies such as Philips, Cisco, Ojas Venture Partners and Microsoft before joining the founding team.
Home rental has been a fairly rigid segment, especially in India. Landlords are worried about hiring tenants, and it`s not a smooth navigation for them either. .