Indian home rental market is gaining a lot of attention from investors as new startups are bringing more surety and changes in this space. The recent development in this space is that a home rental startup FastFox has raised $10 million (approx. Rs.65 crore) funding in Series A round led by Blume Ventures, Lightspeed Ventures. Pallav Pandey, co-founder of this startup also took part in the funding round by investing Rs.1.93 crore, as per entrackr reports.
In 2014, the Gurugram-based startup was founded by Pallav Pandey and Mukul Bhati. The online to online platform coordinate with landlords and help customers in shortlisting the house and then help in paperwork also. The company source of income is the brokerage they get from customers once the deal is finalised.
The company claims to have over 2,500 properties listed on its website and planning to expand in other cities.
In 2015, the startup raised the first time seed funding of Rs.6 crores from Lightspeed Ventures. In 2017, the startup also raised funding of Rs.30 crore in Series A funding roundfrom Lightspeed India Partners, Blume Ventures, CyberAgent Ventures and others.
In this space, last week home rental service provider ZiffyHomes acquired Gurugram-based home rental platform Fella Homes to expand its operations. Last month, ZiffyHomes raised Rs.2 crore funding from individual investors.