As per the report in TOI, Bengaluru-based home rental startup NestAway raises $30-million (or Rs 200-crore) funding from New York-based investment fund Tiger Global. This is the first investment from Tiger Global in 2016.
Founded by Amarendra Sahu, Deepak Dhar, Jitendra Jagadev and Smruti Ranjan Parida, NestAway takes a percentage of the monthly rent it generates from the property owners in exchange for offering maintenance and upkeep. There is no brokerage that either the tenant or the owner has to pay in this model.
Tiger Global, IDG Ventures, Flipkart and Ratan Tata among NestAway investors lists.
NestAway working across Bengaluru, Delhi NCR, Pune and Hyderabad with plans to expand into Mumbai and Chennai.
Tiger Global Investment in 2016-
In 2016, Tige Global also confirmed funding deal with logistics firm BlackBuck and online video content creator The Viral Fever. The TVF deal was reported in February but was done last year.
Tiger’s big bets in India include an almost 30% stake in Flipkart, significant positions in other top-rung startups like Ola, Quikr and Grofers, besides a string of series-A wagers the fund took in 2015. Most of its early-stage companies have found it diffi cult to raise follow-on capital.All told, the fund -known for being persistently secretive -has deployed around $2 billion across 40 companies here, indicating its bullishness around the Indian consumer internet story .