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Zenify raises Rs 6 Crore in Pre-Series A round from HNI

12-May-2016
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Zenify raises Rs 6 Crore in Pre-Series A round from HNI

Zenify, a home aggregator and rental management start-up based in Bengaluru has raised Pre-Series A funding of INR 6 crores from High Networth Individuals (HNI), who have a minor stake in Zenify.

Zenify will use the raised funds to further expand their range of services in India and strengthen its team to compliment their capabilities.

 The company had earlier raised Rs 4 crore in angel funding from Srikanth and Bharath from K12 Techno Service Pvt. Ltd and Atul Jalan, Founder and CEO of Mathan Software Service Pvt Ltd. Zenify, today has a total funding of Rs. 10 crore.

 Sudarshan Purohit, Kailash Rathi and Ankur Agarwal, alumni of IIT-M, co-founded Zenify, which lists over 1700 properties available for rent across Bengaluru. The platform 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 their portal.

 Speaking on this, Purohit said, “This is an exciting moment for us. 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.”

 He further added, “We have already witnessed a major shift in consumer behaviour. Over 90 per cent of the rental property booking is being done online through Zenify. We hope to take our product to other tenants and owners across India and help solve the rental problems.”

The company foresees scaling its business across the major cities of the country in less than two years and becoming a prominent player in the rental segment.

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