GetSetHome Surpasses $1M Seed Funding Milestone for Rental Solutions Evolution

GetSetHome Surpasses $1M Seed Funding Milestone for Rental Solutions Evolution Mumbai-based startup GetSetHome, specializing in managing and providing rental accommodations, has successfully raised $1 million in a seed funding round led by Mumbai-based VC firm Mistry Ventures. The company, founded in 2014 by Junaid Shaikh, Shabnam Virani, and Muddassar Virani, plans to utilize the funds to fuel its growth by expanding into new micro markets, improving its platform and user experience, and strengthening its customer presence in Mumbai and Pune, where it currently operates.

GetSetHome offers fully furnished rental accommodations on both shared and non-sharing bases, primarily catering to students and professionals relocating within or to these cities. The startup boasts having assisted over 12,000 individuals in securing accommodations, with partner properties maintaining an impressive occupancy rate of over 90%.

The funding aims to help GetSetHome increase its user base to 50,000 within the next two years. The startup seeks to address the challenges associated with finding rental accommodations, such as dealing with fragmented brokerage systems, high upfront payments, extensive travel, and accommodations lacking amenities.

To simplify the house-hunting process, GetSetHome allows users to explore homes through verified photos and book accommodations directly. The startup also claims to enhance rental yields for property owners, increasing the industry standard of 2% to an average of 6%.

Junaid Shaikh, co-founder of GetSetHome, highlighted the company’s leverage of AI, ML, and big data for insights on micro-market demands, predictive analytics, tenant matching, and risk assessments. GetSetHome faces competition from other startups in the sector, including Ishtara, Stanza Living, Nestaway, and Zolo.

Zahan Mistry of Mistry Ventures expressed confidence in GetSetHome’s technological and operational capabilities, addressing pain points in the rental ecosystem. Mistry Ventures, founded by late Cyrus Mistry, has been actively funding startups across various sectors since 2018.

India’s proptech sector, expected to be a $1 trillion opportunity by 2030, has witnessed significant growth, with coliving emerging as a key driver. Investments in proptech startups in India have surged, with notable players like Zolostays and Stanza Living securing substantial funding in recent years.

By Admin

Leave a Reply

Your email address will not be published. Required fields are marked *