Nestaway Technologies Acquires ApnaComplex to Offer High-Value Home Services To Its Users
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Home rental startup Nestaway Technologies has acquired apartment management and security solution provider ApnaComplex for an undisclosed amount.
According to the official statement, ApnaComplex will retain its distinct brand and will continue to operate independently post acquisition. With this deal, Nestaway will expand its range of home services including painting, pest control or deep cleaning to apartment residents.
Founded in 2015 by Amarendra Sahu, Smruti Parida, Deepak Dhar and Jitendra Jagadev, Nestaway allows users to find, book, and move-in to a rental home across the country, all by just using an app.
The Bengaluru-based startup currently manages 150,000 units across 15 cities including Bengaluru, New Delhi, Noida, Gurgaon, Kota, Mumbai, Pune, Hyderabad, and Chennai. Nestaway has been backed by some of the marquee investors, such as Tiger Global, Chiratae, Goldman Sachs, Ratan Tata and Yuri Milner.
Why Does This Deal Make Sense?
While Nestaway helps users find rental homes of their choice, ApnaComplex focuses on making life convenient for the residents, homeowners and associations in gated communities. According to the companies, the synergies of the two brands will accelerate the growth of both the companies by enabling offerings with much better value for the target customers.
Speaking about the deal, Amarendra Sahu, Co-Founder, and CEO at Nestaway Technologies said that the association will help Nestaway in geographically expanding services to a larger audience. “Our association with ApnaComplex will enable the residents of the societies get better offers in a range of high-value home services including painting, pest control or deep cleaning at fraction of the market rate that NestAway has been delivering in its network. And their national scale will help us reach a much larger audience not just in Bengaluru, but across India as well.” said.
ApnaComplex is Making Apartment Management Easier
Bengaluru-based ApnaComplex was founded by Raja Sekhar Kommu and Gokul Singh in 2010. It provides apartment management solutions. According to the company website, it manages data of owners, residents, vendors, staff, vehicles, documents, assets, income, expenses, dues etc of a complex from a single place. The company also claims to increase the transparency of operations of the association.
The company currently has offices in six cities in India. According to the company, apartment societies in over 80 cities are currently using their solutions.
Commenting on the deal, Raja Sekhar Kommu, Co-Founder and CEO of ApnaComplex said associating with Nestaway will help the company enhance its platform at a much faster rate.