NestAway to be Acquired by Aurum PropTech

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  • 3rd Jun 2023
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NestAway to be Acquired by Aurum PropTech
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Aurum PropTech to Acquire Managed Rental Property Company NestAway 

Aurum PropTech is poised to acquire NestAway Technologies, a managed rental property company financed by Goldman Sachs, Tiger Global, and Ratan Tata, via an acquisition of all existing shareholders, according to sources with direct knowledge of the situation.

In addition to the company's founders, its shareholders include global institutional investors and prominent business figures such as the former chairman of Tata Sons.

The 2015-founded online marketplace for home rentals counts Flipkart, Chiratae Ventures, and a university fund among its main investors.

Over the years, NestAway has effectively raised $110 million from its prominent investors to support its growth and expansion plans.

Aurum PropTech will presumably pay more than $20 million for the proposed acquisition, one of the first buyouts of a rental platform.

"The transaction is well advanced, and the majority of existing shareholders are already on board. It is likely to be signed shortly,"

The company's last investment round was at a valuation of $230 million in 2019.

However, the value has decreased since the Covid-19 pandemic. The platform currently has over 39,600 tenants in ten cities.

"Aurum PropTech intends to capitalise on the expansion of India's residential rental market, similar to QuintoAndar, a proptech unicorn in Brazil. NestAway was modelled and operates using comparable metrics to QuintoAndar, making it a strategic addition to the Aurum ecosystem, as stated by a previously mentioned individual.

The co-founder and CEO of NestAway, Amarendra Sahu, declined to comment for the article. Until the time of going to press, NestAway, Aurum PropTech, Tiger Global, Goldman Sachs, Flipkart, Chiratae Ventures, and Ratan Tata did not respond to ET's separate email inquiries.

This will be Aurum PropTech's ninth acquisition related to real estate technology in the past two years. It had previously acquired NestAway's co-living subsidiary HelloWorld, helping to increase its annual revenue from Rs 38 crore to Rs 72 crore.


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