● ApnaComplex will continue to operate independently to retain focus on its core segment of Apartment Management Solution
● Nestaway will expand its range of high-value home services including painting, pest control or deep cleaning to apartment residents
Bangalore, NFAPost News Service: Nestaway Technologies, India’s largest managed home rental network today announced the acquisition of ApnaComplex, India’s largest and fastest-growing Apartment Management and Security Solution.
Nestaway began its operations in January, 2015. It has been backed by some of the marquee investors such as Tiger Global, Chiratae, Goldman Sachs, Ratan Tata, and Yuri Milner. It currently manages 150,000 units across 15 cities.
A 10-year-old company, ApnaComplex manages over 20,000 societies spread across 80+ cities with a bulk of homes in major cities including, Bangalore, NCR, Mumbai, Pune, and Hyderabad. ApnaComplex will retain its distinct brand and culture and will continue to operate independently after the acquisition and will continue to focus on its core segment of Apartment Societies.
This acquisition supports NestAway and ApnaComplex’s shared vision to bring more convenience to the owners and residents of Gated Communities in India.
While NestAway has transformed the process of renting houses using its innovative business models, ApnaComplex’s efforts have been focused on making life convenient for the residents, homeowners & their associations in gated communities.
The synergies of the combination will accelerate the growth of both companies by enabling offerings with much better value for the target customers.
Commenting on the acquisition, Nestaway Technologies Co-Founder, and CEO Amarendra Sahu ApnaComplex is not only the largest Apartment Management Solution provider in India but is also the most trusted one in its segment.
“Our association with ApnaComplex will enable the residents of these societies to not only an easy, seamless and trustworthy way to rent their apartments to families but also get better offers in a range of high-value home services including painting, pest control or deep cleaning at fraction of the market rate that NestAway has been delivering in its network. And their national scale will help us reach a much larger audience in not just Bangalore, but across India as well.” said Nestaway Technologies Co-Founder, and CEO Amarendra Sahu.
ApnaComplex Co-Founder and CEO Raja Sekhar Kommu said ApnaComplex continues to be a pioneer in the Apartment Management space, with nearly a decade of innovations to ensure effective management of apartment societies.
“In addition, we are committed to making a positive impact in all aspects of an apartment resident’s life, from hassle-free maintenance payments to healthy living. Associating with Nestaway will not only enable us to enhance our platform at a much faster rate but together, we can create a strong and trusted ecosystem for owners and residents of apartment societies,” said ApnaComplex Co-Founder and CEO Raja Sekhar Kommu.
Nestaway Technologies Pvt. Ltd
It is common for urban migrants in Indian cities to encounter biases and barriers while searching for a rented home of their choice. These issues create an atmosphere of distrust between homeowners and tenants.
Nestaway Technologies, ‘India’s largest online home rental network’ came into existence to resolve these problems through their holistic services. Currently, Nestaway manages 150,000 units in its network.
The company has been able to make its presence in the market by partnering with several committed Affiliate Partners. Nestaway strongly believes that without their constant support the company wouldn’t have been able to achieve such a milestone in a short period of time.
Nestaway has its presence in fifteen cities – major ones being Bengaluru, New Delhi, Noida, Gurgaon, Kota, Mumbai, Pune, Hyderabad, and Chennai. The company was founded by Amarendra Sahu, Jitendra Jagadev, Deepak Dhar and Smruti Parida in 2015.
ApnaComplex is India’s largest and fastest-growing Apartment Management and Security Solution with offices in 6 cities in India. Apartment Societies in over 80 cities use their solution to effortlessly manage all aspects of their society.
The startup uses technology to bring order to the usual ad-hoc management of gated communities. ApnaComplex saves time for the unsung heroes of the Managing Committees of an Apartment Society and makes living in an apartment complex a pleasant and convenient experience for the whole community. The company was founded by Raja Sekhar Kommu and Gokul Singh in 2010.