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Home rental startup Nestaway Technologies buys apartment management solution ApnaComplex

FP Staff

Bengaluru-based managed home rental network Nestaway Technologies on Thursday announced the acquisition of ApnaComplex, apartment management and security solution provider. This acquisition supports NestAway and ApnaComplex's shared vision to bring more convenience to the owners and residents of gated communities in India, the company said in a release.

Claiming that NestAway has transformed the process of renting houses using its innovative business models, while ApnaComplex's efforts have been focused on making life convenient for the residents, homeowners and their associations in gated communities, it said the synergies of the combination will accelerate the growth of both companies by enabling offerings with much better value for the target customers, a PTI report said.

"Our association with ApnaComplex will enable the residents of these societies to not only an easy, seamless and trustworthy way to rent their apartments to families but also 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," Nestaway Technologies Co-Founder, and CEO Amarendra Sahu said.

Nestaway began its operations in January 2015. It has been backed by some of the marquee investors such as Tiger Global, Chiratae, Goldman Sachs, Ratan Tata and Yuri Milner.

It currently manages 150,000 units across 15 cities. ApnaComplex is a 10-year old company that manages over 20,000 societies spread across 80-plus cities with a bulk of homes in major cities including, Bangalore, NCR, Mumbai, Pune, and Hyderabad.

--With PTI inputs

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