Friday, March 29

Rental Service Ziffyhomes Acquires Nivaasa in all Cash Deal

ZiffyHomes, a Delhi based home rental service acquired Nivaasa, a Gurgaon-headquartered home rental platform for an undisclosed amount. The acquisition happened in cash.

The company had earlier acquired competitor Fellahomes this year to become one of the largest aggregators of Exclusive Rental Properties in Delhi NCR.

The acquisition will help Ziffy to expand in the premium category apartments across India

Nivaasa, which currently operates in Gurgaon, Delhi, Mumbai, and Bangalore offers a professional way to rent a home. The startup created its own furnished living spaces and provides a house hunting service to home seekers looking for rentals in the open market. This apart, it also provides furnished and rental homes to people and allows them to customize the amount of furniture they desired to rent.

Under the acquisition, Nivaasa will transfer its all properties and assets to ZiffyHomes. They would be taking over the Business, Sales, and Operations part going forward. Further, while customers would be able to avail extensive set of benefits which are the part of ZiffyHomes platform, House Owners will be provided with Property Management tools for better accountability of their rental returns on the property.

ZiffyHomes had recently raised seed funding of Rs. 2 crores from Individual investors. The current acquisition will add 12 Community Hubs to ZiffyHomes’ rental business in Gurugram. The Ziffy Technologies platform currently has close to 2,000 Rooms along with an exclusive supply of around 500 studio apartments listed on it across Delhi/NCR.