Delhi based home rental solution provider ZiffyHomes, operated by Ziffy Technologies Pvt. Ltd, has acquired FellaHomes for an all-cash and equity deal. However, the amount has not yet been disclosed.
Ziffy said in a statement that the acquisition was in line with its expansion strategy. After this acquisition, it would now become one of the largest aggregators of exclusive rental properties in Delhi-NCR.
“Both Fella and Ziffy have been trying to solve the same problem in the same market while working with same partners, vendors, and customers in the ecosystem. So, we realised that our common mission can be faster accomplished if we join hands and combine our strengths,” said Digendra Singh Rathore, CEO & Co-Founder at FellaHomes.
After this acquisition, the founder of FellaHomes Virender Pratap Singh will be joining the board of ZiffyHomes and focus on its growth and expansion plans. The diversified Dharampal Satyapal Group (DS Group), which was an investor in Fella Homes, will join the board of ZiffyHomes
“Acquisition of FellaHomes would help us to expand our rental capabilities towards bed wise and affordable bookings. With the help of similar expertise, we would soon be launching products facilitating to the students’ segment,” added Sanchal Rajan, CEO and co-founder of ZiffyHomes.
FellaHomes was founded back in 2015, and provides ready to move rental homes for working professionals across the city. The fully furnished homes are charged as per the head/ per bed. FellaHomes earlier secured a $2 million funding in July 2016 from an unnamed investor in DS Group.
ZiffyHomes was also founded in 2015 by Sanchal Ranjan and Saurabh Kumar which is in the same operations as FellaHomes. ZiffyHomes had last month raised Rs 2 crore ($313,503) from a group of angel investors led by Bikky Khosla and Anirudh Agarwal.
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