Rental Space Startup Livvehomes Raises $5 Mn From Angel Investors Funding would be utilized in order to stabilize the company's operations
By Prabhjeet Bhatla •
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Kerala-based real estate firm Livvehomes offers online deposit and Payment platforms for owners as well as for tenants and has announced to have raised $5 million in the second funding from undisclosed angel investors.
Funding would be utilized in order to stabilize the company's operations. Using the raised funds, the platform will offer a uniform set of furniture across all its properties and ensures no owners or tenants face any hidden charges. Using the raised funds it looks to increase its operational efficiency which further helps in the development of the property.
"We are pumped up with the change in the housing ecosystem. With this change and boost of motivation, we are sure we will change how people perceive rental space till now. The funds would be used to renovate more and more normal homes and make them a totally functional, beautiful living space. Starting our Pune showrooms will provide a new kind of experience to people who are looking to convert their houses to a great living experience. As of now we have completed renovating over 4500 houses and we are looking forward to making at least 12,000 houses till 2021 finishes," commented Mayya Lakshman, chief operating officer, Livvehomes.com.
For the last 5 years, the company has been providing great living standards to increase their value by taking up unfurnished as well as semi-furnished homes from the owners, furnish them and further rent them to tenants and most importantly without any deposits. The main aim of the company is to change the mindset of owners and tenants by giving them a safe and secure platform to transact on. Tenants provide a zero deposit model with a great luxury living experience by renovating these houses and adding in house furniture, decor, and appliances. The company has more than 4800 properties across Delhi/NCR, Bengaluru, Pune, Dubai, and other regions.
Livvehomes had previously raised a funding round of $1.5 million and with this round, it has raised a total of $6.5 million to date.
The platform has been said to start furniture and interiors showrooms in Pune, Bangalore, Delhi/NCR, Hyderabad, and Chennai to provide its home renovation and quality furniture to customers outside its current operational spectrum.
