Proptech major Aurum PropTech is set to acquire Goldman Sachs, Tiger Global, and Ratan Tata-backed managed rental home company NestAway Technologies through a complete buyout of all existing shareholders, said persons with direct knowledge of the development.
Apart from the founders, the company’s shareholders include global institutional investors and prominent business personalities such as the former Tata Sons chairman.
Founded in 2015, the online home rental marketplace counts Flipkart, Chiratae Ventures, and a university fund among its key investors. Over the years, NestAway has successfully raised $110 million to support its growth and expansion plans from its prominent investors.
Aurum PropTech will likely be paying a total of over $20 million for the proposed acquisition, which will be one of the first such buyout deals for a rental platform.