Home rental marketplace ZiffyHomes has raised Rs 2 crore ($313,503) from a group of angel investors led by Bikky Khosla, chief executive of business-to-business portal Trade India and Anirudh Agarwal, managing director of diversified business conglomerate Shree Sharda Group. The two investors will join the startup’s board.
Others who participated in the round include Ajay Kaul, CEO of Jubilant FoodWorks; Karan Kumar, founder and CEO of Dubai-based investment firm Amalthea Capital, and Mini Monesh, managing director of wellness and spa chain Virgo Wellness.
The Gurgaon-based company plans to utilise the capital to expand its infrastructure by building studio apartments, which would cater to a niche segment of executive class accommodation.
Founded in May 2015 by Sanchal Ranjan and Saurabh Kumar, Ziffy Technologies Private Limited lets its users rent or let out homes entirely online without brokerage. It offers ready-to-move-in individual rooms to tenants for long stays without any maintenance worry, the convenience of online rent payment, and the freedom to move across ZiffyHomes’ other homes.
Ranjan, CEO of ZiffyHomes said “Combining technology with on-the-ground operations is our USP, bringing trust to the table. With these funds, we plan to foray into the studio apartments segment which would further cater to a niche section of executive class accommodation.”
Prior to setting up ZiffyHomes, Ranjan worked with consulting firms KPMG and Deloitte. An IIT-Kanpur alumnus, Kumar previously served as assistant vice president of investment banking at SBI Capital Markets.