An­gels Find a Nest in this Rental Com­pany

The Economic Times - - Disruption: -

FEW IN­VESTORS Yuri Mil­ner’s fund Apo­letto Asia & early Flip­kart staff Su­jeet Kumar have in­vested in Nestaway

Payal Gan­guly & Aditi Shri­vas­tava

Ben­galuru: Rus­sian bil­lion­aire Yuri Mil­ner-backed fund Apo­letto Asia and early Flip­kart em­ployee Su­jeet Kumar have in­vested in home rental net­work Nestaway, reg­u­la­tory fil­ings showed. Ex­ist­ing in­vestor Tiger Global Man­age­ment, along with IDG Ven­tures In­dia, led the lat­est round of fund­ing.

The fil­ings did not dis­close the amount they in­vested, but two peo­ple with di­rect knowl­edge of the mat­ter put it at more than $30 mil­lion.

This in­vest­ment in the startup is one the largest se­ries-B trans­ac­tions in 2016, and the first deal by Tiger Global this year.

Nestaway will use the cash to fur­ther strengthen its sup­ply net­work and ex­pand to mul­ti­ple cities and cat­e­gories over the next few months, the com­pany said. It re­cently ex­panded its port­fo­lio to of­fer homes on rent for fam­i­lies and in­di­vid­u­als from of­fer­ing fully fur­nished rooms to bach­e­lors, tak­ing low ad­vance de­posits.

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