A group of angel investors have recently funded Indian home rental marketplace, ZiffyHomes. Led by the chief executive of B2B portal Trade India, Bikky Khosla and the managing director of Shree Sharda Group, Anirudh Agarwal, the two investors will also be joining the startup’s board.
CEO of Jubilant FoodWorks, Ajay Kaul along with founder and CEO of a Dubai investment firm, Amalthea Capital and the managing director of wellness from Virgo Wellness, Mini Monesh were also investors who participated in the round.
ZiffyHomes plans to use the capital to expand its infrastructure in the way of studio apartments which will cater to a niche segment of executive class accommodation.
Saurabh Kumar and Sanchal Ranjan founded Ziffy Technologies Private Limited in May of 2015. It allows users to rent or let out homes from online without brokerage. It also offers ready-to-move-in individual rooms to tenants for long stays without and maintenance worry. The convenience of online rent payment and the freedom to move to other Ziffy homes are some of the other perks of using the platform.
“Combining technology with on-the-ground operations is our USP, bringing trust to the table. With these funds, we plan to foray into the studio apartments segment which would further cater to a niche section of executive class accommodation,” Ranjan, CEO of ZiffyHomes.
Ranjan worked with consulting firms Deloitte and KOMG before the launch of ZiffyHomes. Kumar is an IIT-Kanpur alumnus who served as an assistant vice president of investment banking at SBI Capital Markets.
ZiffyHomes is only present in Delhi-NCR but is looking to expand into other cities in the near future. The company provides a platform to connect with verified tenants and help them earn higher house rental 24/7 as well as an easy, trouble-free home rental management solution. The platform uses an algorithm that’s analytics-based to generate area maps providing lists of what’s highest in the demand and rentals of prevailing areas for users to choose from.
“India has recently developed a growing appetite for rental housing. However, there’s a big gap between supply and demand largely due to a ‘trust discrepancy’ that many landlords face. The company is plugging the efficiency, trust and knowledge loophole,” said investor Agarwal.
ZiffyHomes’ has some competitors, Bengaluru-based NestAway being one. NestAway was funded by Tiger Global, IDG Ventures, and Ratan Tata, raising more than $45 million thus far.
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