Nestaway acquires apartment management platform ApnaComplex

NestAway founders (from left) Deepak Dhar, Jitendra Jagadev, Amarendra Sahu and Smruti Parida. Dhar and Parida have both left the company. Photo: Livemint.

Home rental startup NestAway Technologies Pvt. Ltd has acquired apartment management platform ApnaComplex, to help expand its property management business. Nestaway didn’t disclose the financial details of the deal.

Nestaway will use the acquisition to expand its range of home services such as painting, pest control, and deep cleaning to apartment residents that are currently registered with the ApnaComplex platform, said a top executive.

ApnaComplex, a 10-year old startup, offers residents of buildings a platform, primarily to help them settle apartment bills, raise complaints, book common facilities and organize public events.

This is Nestaway’s second acquisition since its launch in 2015. In 2017, it had acquired its smaller rival Zenify (City Synapse Information Pvt. Ltd) for an undisclosed amount to expand into the family housing segment.

With this acquisition, ApnaComplex’s 20,000 societies spread across over 80 cities will get access to Nestaway’s services. ApnaComplex will retain its brand and will continue to operate independently after the acquisition and will continue to focus on its core segment of apartment societies.

Co-founded by Sahu, Deepak Dhar, Jitendra Jagadev and Smruti Parida in 2015, Nestaway has so far raised around $110 million from investors such as Tiger Global, Epiq Capital, Goldman Sachs and Chiratae Ventures.

Dhar quit the startup to set-up his own venture, Mint reported in July 2019.

Nestaway competes with several other similar brands such as Nexus Venture Partners-backed Zolo Stays, and Oyo which also offers shared housing under the OYO Life brand.

This article was first published on livemint.com

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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