case study

Key Facts

Some features that set NestAway apart from its rivals include the fact that it handles everything from beginning to end for tenants and property owners, including creating the official lease paperwork, lease collection, home maintenance, and so forth. Therefore, it intervenes at every stage of the rental life cycle, to put it simply.

GROWTH

According to a top executive, Nestaway finished the fiscal year that ended in March 2019 (FY19) with net revenues of 70 crores, a 49% increase from the previous year.

In 2021, it was present in ten unique Indian cities, including the metropolises of Mumbai, Bengaluru, Delhi, and Kolkata as well as the smaller cities of Pune, Faridabad, Ghaziabad, Greater Noida, Gurugram, and others.

Nestaway reports a 298% increase in proprietor requests from smaller towns and cities wanting to fix their properties from the beginning of July 2020, which the firm previously rejected on the grounds of serviceability.

INVESTMENTS

IDG Ventures India and InMobi provided $1.2 million in seed funding for NestAway's launch. NestAway received $12 million in funding at that time, in July 2015, from Tiger Global Management and Flipkart, one of India's largest e-commerce sites. $10 million was provided by Tiger Global and Chiratae Company, with $5 million coming from the UC RNT Fund.

Tiger Global Management, Sujeet Kumar, and IDG Ventures India contributed $30 million to the company's Series C round of speculative financing in April 2016.

Over 12 investors have contributed a total of $109 million to its fundraising.

MARKETING STRATEGIES

The target market for NestAway is single college students and bachelors between the ages of 21 and 31. Therefore, they continue to focus mostly on digital marketing.

The hashtag campaigns #NestawayFromHome and #HomesThatDontDiscriminate for Nestaway's internet advertising were successful and well-liked by the bachelor's residents.