Home rental startup Nestaway Technologies announced the acquisition of ApnaComplex, an apartment management platform. The deal has been seen as a major step by NestAway to widen its property business. However, NestAway has shared no information about the amount of the deal.
With this acquisition, NestAway is planning to extend its home services like deep cleaning, and pest control to people having registration with ApnaComplex.
Founded in 2010, ApnaComplex is an hassle-free platform, which helps residents pay bills, file complaints, organize public events, book common services, etc.
Since the launch of NestAway in 2015, this is its second acquisition. Late in 2017, the firm had bought one of its rivals Zenify (City Synapse Information Pvt. Ltd) for an unrevealed figure with the aim to upsize its family housing section.
“Our collaboration with ApnaComplex will not only help residents of ApnaComplex to rent hassle-free, seamless, and reliable apartments but also enjoy great offers in a range of high-value home services comprising painting, pest control or deep cleaning at a similar price to market and that is what NestAway has been delivering since its inception in the industry. Moreover, ApnaComplex’s extensive network will help us reach a much bigger pool of consumers in not just Bengaluru, but pan India as well," said Amarendra Sahu, chief executive of Nestaway.
This acquisition also marks the fact that ApnaComplex’s 20,000 societies spread across 80 cities will have access to Nestaway’s services. Even after the acquisition, ApnaComplex will keep on operating as an autonomous entity and will stay focused on its key segment of apartment societies.
Though Nestaway has to battle with bigger players like Oyo, the world's third-largest and fastest-growing hospitality chain of hotels and Nexus Venture Partners-backed by Zolo Stays, but what makes it stand out is its affordable and reliable services.
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