The startup aims to standardise the market rental pricing by predicting the market value of each property listed on its portal
Bangalore-based online home aggregator and rental management startup Zenify has raised INR 6 crore (US$900,000) in pre-Series A round of funding from a group of High Net-worth Individuals (HNI).
Zenify will use the funds to further expand its range of services in India and strengthen the team.
The company had earlier raised INR 4 crore (US$400,000) in angel funding from Srikanth and Bharath from K12 Techno Service, and Atul Jalan, Founder and CEO of Mathan Software.
Zenify was co-founded by Sudarshan Purohit, Kailash Rathi and Ankur Agarwal. The portal lists over 1,700 properties available for rent across Bangalore. It provides owners and tenants a hassle- free system to find and rent an apartment. The company aims to standardise the market rental pricing by predicting the market value of each property listed on its portal.
Through its unique ZRP (Zenify Rental Price), Zenify brings in standardisation for home rentals. ZRP is a fixed rental price for each property that is available for rent, the price is fixed based on its locality and demand.
CEO Purohit said: “Over the past few months we have been concentrating on developing new services to ease pain points of rentals in India. Today, India has an untapped market of 4.5 billion for managed home rentals with 4 million unattended NRI properties. We strongly believe that the real estate industry has a lot of potential for change and growth and the impending years will bring about the required changes, the industry so greatly needs.”
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