Rental discovery platform, ZiffyHomes has raised seed funding of two crores from individual investors led by Bikky Khosla, Angel Investor and CEO at TradeIndia.com and Anirudh Agarwal, Managing Director at Shree Sharda Group. As per the deal, the two are also expected to join the Gurgaon-based home rental startup as board members to mentor the team.
Founded in May 2015, ZiffyHomes is a technology driven home rental marketplace. The company is a discovery platform which offers ready to move-in individual rooms to tenants for long stays without any maintenance worry, convenience of online rent payment and freedom to move across the brand’s homes. They connect owners to responsible, verified tenants and help them earn higher house rental round the year in addition to a trouble free home rental management solution. They also offer dedicated relationship managers, App based Service requests and real-time online transactions. The enterprise uses analytics-based algorithm to generate area heat maps providing demand forecast and rentals of prevailing areas.
Sanchal Ranjan, CEO & Co-Founder of ZiffyHomes says the company’s USP lies in combining technology and on-ground operations while pointing out that execution remains the key element. “We bring trust to the table. ZiffyHomes is a brand which provides a lifestyle helping your achieve more rather than spending time in daily chores,” he adds. The company is planning to utilise the funds raised to foray into the studio apartments segment in order to cater to a niche section of executive class accommodation.
As per a statement from ZiffyHomes, the residential rental market in India is a $11 billion market which consists of 40% migrants in top 10 urban cities and an additional $3 billion in vacant properties which requires occupancy.
Elaborating, Anirudh Agarwal, Lead Investor says, “There’s a big gap between supply and demand largely due to a “trust discrepancy” that many landlords face. ZiffyHomes disrupts the current model and offers the following strategic advantages: 1) ready to move-in individual rooms to tenants for long stays, 2) convenience of online rent payment and 3) freedom to move across homes.”
Currently, the company is present only in Delhi/NCR but plans to expand to more cities across India, wherein there are more migrants with expectations of quality rentals. As per ZiffyHomes, the investments secured will help them expand operations in order to become the largest service provider for rentals in Delhi NCR.