Home Rental Marketplace ZiffyHomes Acquires Nivaasa In An All Cash Deal
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Technology driven home rental marketplace, ZiffyHomes, acquired Gurgaon based home rental platform Nivaasa for an undisclosed amount but in all cash deal.
With no brokerage charges, ZiffyHomes is a home discovery platform which offers ready to move-in individual rooms to tenants for long stays without any maintenance worry, convenience of online rent payment and freedom to move across our homes to make lives better by making it simple to rent homes.
Acquisition of Nivaasa will help ZiffyHomes to expand in the premium category apartments across India, given that they are currently based in Delhi NCR. The company had earlier acquired competitor Fella homes this year to become one of the largest aggregator of Exclusive Rental Properties in Delhi NCR.
Sanchal Ranjan, CEO at ZiffyHomes commented, “A huge increase in rental numbers is changing how people think about furnished spaces. There’s a sense of ‘I’m not sure where I’m going to be in three years so I’m not going to buy a lot of furniture’. This acquisition will help us target these millennials spread across the major metro cities in India. We want to define luxury as an experience rather than ownership. Taking our journey one step further, we are excited to welcome Nivaasa team and their customers to ZiffyHomes family.”
Talking about the acquisition, Louis Pereira, Co-founder at Nivaasa said, “Besides sharing a common vision with Ziffy Homes, we were impressed with the team they’ve put together to make that vision a reality. We’re happy to join hands with them and be a part of their journey to make it easier for more people to find great living spaces to rent.”
ZiffyHomes, had recently raised seed funding of ₹ 2 Crores from Individual investors led by Bikky Khosla, Angel Investor and CEO at TradeIndia.com and Anirudh Agarwal, Managing Director at Shree Sharda Group.