Aurum PropTech authorized the purchase of NestAway Technologies for up to Rs 90 crore.
In June of this year, Aurum PropTech completed the acquisition of HelloWorld from NestAway, as announced in an official announcement. The founders of HelloWorld, Jitendra Jagadev and Ismail Khan, who were formerly part of NestAway’s founding team, will now assume leadership responsibilities inside the company following the acquisition, as per reported by BW Disrupt.
Speaking about the acquisition, Jitendra Jagadev, Founder of NestAway said, “Over the years, we have grown and expanded, serving thousands of customers, becoming a trusted brand in the PropTech industry. NestAway has many milestones to achieve. Aurum PropTech has a passion for innovation and customer-centricity, making them the perfect partner to fuel our growth and help us realise our vision on an even larger scale.”
Ashish Deora, Founder and CEO of Aurum Ventures expressed his delight, “NestAway’s tech driven revolution in the rental housing market is in perfect accord with our mission to revolutionise the residential rental industry in India. Under the leadership of Jitendra and Ismail, we are confident that we can replicate the remarkable success of HelloWorld, taking NestAway to even greater heights.”
NestAway, founded in 2015, simplifies renting for homeowners and tenants using technology and data. It handles all aspects of house leasing as a middleman. NestAway raised USD 110 million in 2019 at a valuation of USD 220 million from Tiger Global, UC-RNT Fund, Flipkart, Goldman Sachs, and Yuri Milner.