Lodha Ventures writes $6 mn cheque to home rental platform MultiLiving

Lodha Ventures writes $6 mn cheque to home rental platform MultiLiving
Photo Credit: Pexels
13 Mar, 2020

MultiLiving Technologies, which owns and operates an eponymous real estate platform, has raised $6 million from Lodha Ventures, the investment arm of property developer Mangal Prabhat Lodha family.

The Mumbai headquartered company will use the capital to fuel its growth, according to a statement.

Founded in 2019 by Pankaj Singh, MultiLiving curates apartments from owners and offers the homes with built-in services to tenants.

“Life of an urban professional is extremely hectic and the stress of finding and managing a home simply adds up to the burden. MultiLiving is an advanced way of owning and renting out a flat where we take care of everything involved in this space so that individuals can reclaim their time and focus on what truly matters,” Pankaj Singh, CEO and founder, MultiLiving, said in a statement.

Abhinandan Lodha from Lodha Ventures will join the board of advisors of MultiLiving, the statement added.

Read Top real estate execs invest in co-living startup Housr

The company currently operates a limited number of curated flats at a few locations across Mumbai including Lower Parel, Powai, BKC (Bandra Kurla Complex), Kanjurmarg, and Vikhroli.

Apart from curating properties, the platform offers an exclusive insurance policy called HomeShield that covers the owner's property from accidental damages, regular maintenance fees or unforeseen expenses. It also arranges for urgent repairs and ensures routine check-up for free of cost, the company added.

MultiLiving competes with Colive and Nestaway, among others, in this segment.

Founded in 2016 by Abhinandan Lodha, Lodha Ventures provides early-stage capital to companies operating in India.