Nestaway gets backed by Tiger Global and Flipkart

Entrepreneurs becoming investors is becoming a new trend in the start-up ecosystem with company leaders from Flipkart leading the way. After investing in companies like Ather Energy, Flipkart has now teamed with its largest investor Tiger Global to invest around Rs. 76 crore in online home rentals start-up Nestaway making its third investment in new ventures this year.

Based in Bangalore, Nestaway was founded by a team of four graduates from NIT Suratkal and is an online marketplace that caters to home rentals that targets unmarried professionals looking for homes in major metros.

“From showing the house to approving tenants, completing agreements to collecting rent; everything happens online,” said Jitendra Jagadev, cofounder Nestaway who said his company will use the latest round of funding to expand to more cities and improve its technology platform.
Earlier in May, it was already reported that the company had been in talks with Tiger Global and other investors to raise its next round of funding.

With food tech and healthcare becoming the top trends in the start-up industry, accommodation may just be the next big thing for investors to bet on. Flipkart which bought a stake in WeHive in January and coinvested in online freight-booking service Zinka is now actively looking for more potential investing options. This investment model is similar to how global firms like Google and Facebook have followed.