Bangalore based Home rental startup Zenify raises $1mn in funding

Zenify, the Bangalore based Home aggregator and rental startup raised $1 million in Series A funding from a group of High Net-Worth Individuals (HNIs)

These latest funds will be used by the company to enhance its technology and analytic capabilities, along with entering new markets such as Mumbai and Delhi.

“Many HNIs who had built bigger organisations are now willingly sharing their wealth with startups, a culture that took shape in the US. We are evaluating best funding option as they we have received many queries from investors,” said, CEO Sudarshan Purohit in a statement

Last year, the company had raised about Rs 4 crores in angel funding from MSC Srikanth and M Bharath, Atul Jalan and others. This is the company’s second round of funding

Zenify was founded by Sudarshan Purohit, Ankur Agarwal and Kailash Rathi in 2012. The company aims to provide a hassle free rental experience to owners and tenants. Zenify helps in renting out a apartment as well as find the right tenants based on owners need. Zenify also manages the entire rental process end-to-end including all paperwork, contracts etc

In a span of 3+ years, the company claims to have 1500+ apartments listings, 20000+ registered users and further boasts 6000+ customers.

In the home rental sector, the company faces fresh competition with Homigo, Zocalo and Nestaway. Some of the other older players in the sector are Housing.com, Quikr Homes,  99acres and MagicBricks.

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Akash Boaz

Akash is a Startup Enthusiast and an Entrepreneur by Heart. He is usually High on Tech and loves being a Life Hacker. Apart from being a Gamer by passion and a Foodie by choice, Akash loves to write about the Startup Ecosystem Stories. In addition to being a Management Consultant, he is also the Editor at Geekopedia

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