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Managed home rental network Nestaway Technologies has acquired ApnaComplex, an apartment management and security solutions company.
Nestaway, which began operations in January 2015 and backed by marquee investors such as Tiger Global, Chiratae, Goldman Sachs, Ratan Tata, and Yuri Milner, currently manages 150,000 units across 15 cities. While ApnaComplex is a 10-year-old company managing over 20,000 housing societies spread across 80-plus cities with a bulk of homes in major cities including, Bengaluru, Delhi-NCR, Mumbai, Pune, and Hyderabad.
Even after the merger, ApnaComplex is expected to retain its brand and will continue to operate independently and will continue to focus on its core segment of apartment societies.
Without revealing the acquisition cost, Amarendra Sahu, Co-founder, and CEO at Nestaway Technologies said “ApnaComplex is not only the largest apartment management solution provider in India but is also the most trusted one in its segment. Our association with ApnaComplex will enable the residents of these societies an easy and trustworthy way to rent their apartments to families and get better offers in a range of high-value home services including painting, pest control or deep cleaning at a fraction of the market rate. And their national scale will help us reach a much larger audience in not just Bengaluru, but across India as well.”
Raja Sekhar Kommu, Co-founder and CEO of ApnaComplex said “ApnaComplex continues to be a pioneer in the apartment management space, with nearly a decade of innovations to ensure effective management of apartment societies. In addition, we are committed to making a positive impact in all aspects of an apartment resident’s life, from hassle-free maintenance payments to healthy living. Associating with Nestaway will not only enable us to enhance our platform at a much faster rate but together, we can create a strong and trusted ecosystem for owners and residents of apartment societies.”
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