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Indian property portal dedicated to finding homes for singles receives seed funding

By Sabine Brix 4 Comments NEWS, Uncategorised
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The team at YourOwnRoom. Photo: Supplied

Bangalore-based property portal YourOwnRoom – an online  rental startup for singles – has  raised an undisclosed amount of seed funding from angel investors, according to a company statement.

YourOwnRoom was launched in February 2016 and founded by Prabhat Kumar Tiwary, an alumnus of Stanford Business School, Sachin Joshi and Dr. Rewat Laxman. The seed funding comes courtesy of angel investors from the US and India, the money helping to contribute to the portal, which currently operates across Bengaluru and Pune.

Ravi Chaturvedi, a former group chief executive of Jet Airways, has invested in the startup  and says the portal's ethos is a recipe for success.

"YourOwnRoom's mission is to consistently deliver a delightful customer experience to the renter and build a trusted relationship with the home owners, thus creating great value for all the stakeholders," Chaturvedi said. "That is the recipe for building a sustainable, differentiated business in a cluttered space."

Portal co-founder Prabhat Tiwary said he was excited about the company's partnership with its investors, which also includes Aditya Kandregula - a US-based angel investor and a senior executive in a technology company.

“We are super excited by the value and experience our investors bring to the table and look forward to their association” Tiwary asserts.

"The residential rental market in Metros is highly fragmented, unorganised and, frankly, not dedicated to delighting the customer on the demand side. And the people who rent out their premises worry about property's security and sustained returns," he says.

The funds raised will be primarily utilised in property acquisition, developing technology further and boosting the portal's marketing and sales endeavours. Keeping in mind the millennial audience they cater to, digital marketing strategies will form the company’s core focus.

Comments

  • Prabhat Kumar Tiwary
    February 27, 2017

    Thanks Sabine for the wonderful article and coverage.

  • Arun Mennikeri
    February 27, 2017

    All the best team keep going!!!!For all who have been looking for single room in a well gated society with all the amenities , I highly recommend you to consider #YourOwnROOM #SingleLiving #Hospitality #RentaRoom

  • Pranav T
    February 28, 2017

    Great article… its always fascinating to see how companies are looking to solve real life problems and helping create a better society.

  • Sai Nageswar Rao
    March 1, 2017

    Great milestone team YpuOwnRoom. This market has great potential and a problem that needs to be solved for stress free experience for singles in cities. Keep the pursuit and shine.

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