NestAway Acquired Acquired

NestAway positions itself as a home-rental platform focused on furnished homes in Indian cities, converting unfurnished houses into managed, ready-to-move-in apartments.

Renters seeking furnished, managed housing in large Indian cities.

NestAway frames the tenant relationship around community rather than a purely transactional rental, aiming to connect residents across its managed homes.

NestAway's investors describe its approach as built on a long-term view of the owner-tenant relationship and high customer-service quality, aiming for recurring rather than one-off engagement.

Tenant-facing services are delivered through NestAway's app, including move-in support, rent payments, and repairs.

NestAway screens and places KYC-verified tenants into the homes it manages on behalf of property owners, rather than just listing vacancies.

NestAway collects monthly rent from tenants and guarantees timely payout to property owners, removing the owner's collection burden.

NestAway runs ongoing maintenance operations for the homes on its platform, including proactive inspections and repair resolution.

NestAway's core resource is the network of homes it operates on its platform — 18,000 properties as of its 2023 acquisition by Aurum PropTech, generating roughly Rs 30 crore in annualized revenue.

NestAway cites over 11 years of hands-on rental property management experience, having overseen more than ₹2,000 crore in transactions.

NestAway was acquired by listed proptech company Aurum PropTech in 2023 for Rs 90 crore (~$11 million) — a 95% cut from its 2019 valuation of $220 million — becoming part of Aurum's real-estate platform group.

Homeowners list their properties with NestAway in exchange for guaranteed on-time rent, vetted tenants, and upkeep — the core supply relationship behind its managed-home inventory.

NestAway's $30 million Series C in April 2016 was led by Tiger Global, with participation from Yuri Milner's DST Global, IDG Ventures India, and angel investor Sujeet Kumar.

NestAway's core revenue model is a cut of the monthly rent on each managed home.

Employee benefits were NestAway's biggest cost in FY22 (year ended March 2022), rising 30.6% year-on-year even as revenue fell, to account for 39% of total expenditure.

NestAway spent Rs 14.5 crore on facilities management (facility, premises management and upkeep) in FY22, alongside smaller promotional (Rs 4.62 Cr) and franchise (Rs 1.03 Cr) expenses.

Total expenses were Rs 178.4 crore in FY22 (down 5% from Rs 187.7 crore in FY21) against operating revenue of Rs 57.87 crore — NestAway spent Rs 3.08 to earn every rupee of operating income, with an EBITDA margin of -65.78%.