Home rental startup NestAway recently announced that it has acquired the apartment management platform ApnaComplex. The acquisition is a part of NextAway’s strategy to expand its property management business. Monetary details about the deal have not been disclosed yet.
According to a Mint report, NestAway plans to use the acquisition to expand its home services such as painting, pest control and deep cleaning to residents registered with the ApnaComplex platform.
This is NestAway’s second acquisition since its launch. Earlier in 2017, the company had acquired rival Zenify for an undisclosed amount. Zenify’s acquisition was NestAway’s expansion into the family housing segment.
Talking about the acquisition, Amarendra Sahu, Chief Executive Officer of Nestaway said, “Our association with ApnaComplex will enable the residents of these societies (in ApnaComplex) 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 Bengaluru, but across India as well.”
ApnaComplex was founded in 2010 by Raja Sekhar Kommu and Gokul Singh. The brand offers apartment residents a platform primarily to help settle bills, raise complaints, book common facilities and organize public events. Post the acquisition, 20,000 societies registered on ApnaComplex in 80 cities, will get access to Nestaway’s services. ApnaComplex will retain its brand and will continue to operate independently after the acquisition and will continue to focus on its core segment of apartment societies.
“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,” Raja Sekhar Kommu, Co-Founder and Chief Executive of ApnaComplex said.
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