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Aurum PropTech to acquire NestAway for $20M
Proptech major Aurum PropTech is set to acquire NestAway Technologies, a managed rental home company backed by Goldman Sachs, Tiger Global and Ratan Tata. The deal is likely to be worth over $20 million and will be one of the first such buyout deals for a rental platform.
NestAway was founded in 2015 and has raised $110 million from investors including Flipkart, Chiratae Ventures and a university fund. The company has over 39,600 tenants across 10 cities.
Aurum PropTech is looking to expand its presence in the Indian residential rental market. The company has made seven other proptech-related acquisitions in the last two years, including NestAway's co-living subsidiary HelloWorld.
The acquisition of NestAway is a strategic move for Aurum PropTech. NestAway is a well-known brand in the Indian rental market and has a strong track record of growth. The acquisition will help Aurum PropTech to accelerate its growth plans and become a leading player in the Indian rental market.
The deal is expected to be completed in the coming months.
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