At a time when startups are making news in various sector, a Bengaluru-based home aggregator and rental management startup Zenify has been able to raise $1million in a pre-series A funding from high networth individuals (HNIs), who have a minor stake in the company.
Besides, the startup is also in talks with various venture funds to raise around $5 million to fund its expansion plans, according to a senior official of the company
Many HNIs, who had built bigger organisations, are now willingly sharing their wealth with startups, he said adding that this culture first started in the US. “We are evaluating best funding option as they we have received many queries from investors,” he said.
This is the second round of fundraising by Zenify. Last year, the company had raised Rs 4.15 crore in angel funding from a group of investors, including MSC Srikanth and M Bharath from K12 Techno Service Pvt Ltd, and Atul Jalan, founder of Mathan Software Service Pvt Ltd.
The company manages 2,000 rental properties in Bengaluru, 40 per cent of which belong to non-resident Indians (NRIs).