Hostel, PG and coliving platform PGO raises $2 mn

Hostel, PG and coliving platform PGO raises $2 mn
Photo Credit: 123RF.com
7 Nov, 2019

Rental accommodation booking platform PGO app has raised $2 million from chief managing director of real estate company Ektha Group Sreeni Musani and director of IRA Reality Tech, Narsi Reddy Posham. The app owned and operated by Thinkwide Hospitality has a presence across nine cities including Delhi-NCR in hostel, paying guest and coliving accommodations.

Founded in 2018 by former Vodafone India executive Hari Krishna, the app is a peer to peer network for connecting verified rental accommodation providers and users. 

“The new investments will help PGO consolidate its service offerings and lay more emphasis on enriching its technology platform, widening properties network, and foray into newer cities. Some key functions of the app include ease in handling with instant alerts to stay seekers and the providers, and also deals with both traditional and emerging co-living segments,” said hari Krishna in a statement issued by the company. 

The company has previously raised an angel round from a group of high networth individuals last year. The platform also launched its PGO Prime Membership for discount and lightning deals.

PGO app competes with well funded competitors as co-living space has seen multiple takers in recent times.

Tiger Global and Goldman Sachs backed Nestaway had announced its coliving product, Hello World in September

In March, coliving space provider StayAbode raised an undisclosed amount from Japanese media and advertising technology company Voyage Group.

In January, Mumbai based coliving space provider Zolo raised $30 million in a Series B round from IDFC Alternatives, Mirae Asset and existing investor Nexus Venture Partners.