Settl

Settl operates as a technology-enabled managed accommodation platform, targeting the co-living market in India. Founded in 2020 by Abhishek Tripathi and Bharath Bhaskar, the Bengaluru-based company aims to provide a hassle-free living experience for young working professionals in new cities. Settl was launched in July 2020 to offer safe, clean, and fully-furnished properties that are ready for immediate occupancy.

The company functions on an asset-light business model, entering into long-term lease agreements with property owners and builders to convert and manage assets for co-living. This strategy allows Settl to offer a portfolio of PGs, shared apartments, and individual rooms without direct real estate ownership. Revenue is generated primarily from monthly rental fees, which are structured to be all-inclusive, covering utilities like internet, power backup, water, and cooking gas, thereby simplifying the financial commitments for its tenants. Customers interact with the company through its website and mobile application, which facilitate property discovery, bookings, rent payments, and maintenance requests.

The service is designed to eliminate common rental challenges such as dealing with brokers, large security deposits, and managing multiple utility bills. Each property is equipped with amenities including high-speed internet, 24/7 power backup, regular cleaning and maintenance, on-site laundry facilities, and tech-enabled security. Settl also focuses on building a sense of community among its residents, referred to as 'Settlrs', by organizing events like movie nights and yoga sessions. As of early 2024, the company managed over 60 centers with a capacity of 4,000 beds across cities like Bengaluru, Hyderabad, Gurugram, and Chennai, with rental prices typically ranging from ₹12,500 to ₹18,000 per bed. The firm has successfully raised capital to fuel its expansion, securing a total of $3.37 million over six funding rounds, with the latest being a Series A round in January 2024.

Keywords: co-living, managed accommodation, rental platform, real estate technology, proptech, shared living, furnished apartments, working professionals housing, asset-light real estate, community living, rental services, property management, Bengaluru startups, long-term rentals, hassle-free renting, all-inclusive rent, tenant services, urban living solutions, Abhishek Tripathi, Bharath Bhaskar