Proptech company Aurum on Friday said it has acquired Tiger Global-backed home rental firm NestAway Technologies for up to $10.9 million (about Rs 90 crore), a massive markdown from NestAway’s valuation at $227 million in a funding round in 2019.
Aurum Proptech said in a regulatory filing that its executive investment committee has approved the acquisition of up to 100 percent share capital of NestAway.
Aurum will also infuse Rs 30 crore to stabilise the home rental business.
“This capital infusion in NestAway is a testament to Aurum PropTech’s conviction in India’s USD 20-billion rental housing market,” the company said in its filing.
