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Home rental network NestAway raises USD 51 mn

Bengaluru: India's largest home rental network, NestAway Technologies Pvt. Ltd. has announced the raising of USD 51 million (Rs. 330 Crores) in series D financing.

The capital was raised from Goldman Sachs, a global investment bank and active investor in India, and the HK and UC-RNT Fund, a joint venture between Tata Son's chairman emeritus Ratan Tata's RNT Associates and the University of California and Schroder Adveq.

This round also saw participation from its existing investor IDG India and Tiger Global.

"Our vision is to create accessible living using imagination and empathy and we have been humbled by the market acceptance of our shared as well as family rental solution. With this funding, we shall strive harder to impact not only where people live but also how they live and shall work on community housing and student housing in addition to our existing categories. We are glad that our new partners in this journey share our vision and passion to create unique living infrastructure in this country using design and technology," said co-founder and CEO, NestAway Technologies, Amarendra Sahu.

"NestAway is at the forefront of using technology and a hands-on, customer-centric approach to solving complex housing market in India's largest cities. We look forward to partnering with them to bring greater levels of convenience, transparency and service to both home-owners and home-renters throughout India," said a managing director at Goldman Sachs, Niladri Mukhopadhyay.

The organisation works as an agent and property supervisor for homeowners by helping to find residents, receive rent and manage the property over its lifetime in exchange for a percentage share of the rental stream.

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