A rental management company, Zenify, has secured angel funding from Manthan systems’ founder, Atul Jalan and Gana Yantrika Systems to scale up its operations, improve technology and enhance analytics capabilities.
Founded in 2012 by three IIT Madras graduates Sudarshan Purohit, Ankur Agarwal and Kailash Rathi, Zenify manages the entire life cycle of a rental agreement. The company leverages its technology, analytics and design to provide a assured rentals and in depth property management services. It registers and takes up properties from landlords and rents it out to the tenants by handling the entire process of managing and maintaining the property and providing assured rentals to owners.
On the other side, tenants can easily book the apartment online due to assured availability and exhaustive information offered by Zenify.
Related Article: Home Rental Startup NestAway Acquires Rival Zenify
The startup has managed 1,500 residential properties in Bangalore that fetches monthly rentals starting from INR 15,000 to INR 45,000.
The company plans to manage INR 1,00,000 Cr worth of properties in five years and further it plans to take entire process of rental management online. The company claims to have a proprietary analytical model to determine rent of each flat.
According to Atul Jalan, CEO & MD, Manthan Systems the current rental market size is approximately $20 Bn in India’s urban cities. “There is a growing demand for organised property management services in metros. Zenify, with its dynamic ideas and unique offering is catering to this demand to a great extent”, he added
Zenify’s investor Gana Yantrika Systems is a privately held company which invests in companies with unique business models and uses technology to advance market access.
Anant Pandit, Director, Gana Yantrika Systems said, “Zenify’s business model is one of its kind and it is emerging as a key player in the online rental and property management space. Zenify’s business model enables it to drive an initial customer engagement to fulfilment.”
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.