Zenify
Free rental experiences to owners and tenants.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
Zenify, founded in 2012 by Sudarshan Purohit, Ankur Agarwal, and Kailash Rathi, operated as a home aggregator and rental management company based in Bengaluru, India. Initially known as realtykart, the company, legally City Synapse Information Pvt. Ltd, aimed to streamline the rental process for both property owners and tenants. The founders, all graduates of IIT Madras, leveraged their background in technology and analytics to address inefficiencies in the Indian rental market. Their platform was designed to provide a hassle-free rental experience by managing properties, ensuring rental income for owners, and simplifying the search process for tenants.
The company's business model centered on leasing residential properties from owners for a long or short term, thereby providing them with property management services and guaranteed rental returns. Zenify would then list these properties on its platform for tenants. For its services, the company charged the property owner a fee equivalent to one month's rent. A key aspect of their model was the assurance of paying rent to the owner even if the property was vacant, absorbing the risk of tenant turnover. The platform claimed that over 90% of its rental property bookings were conducted online, highlighting its technology-driven approach. By May 2016, the company had over 1,700 properties listed in Bengaluru.
Throughout its operation, Zenify secured multiple rounds of funding to fuel its growth and technological enhancement. After an initial angel funding round in 2015, the company raised ₹6 crore (approximately $900,000 at the time) in a Pre-Series A round in May 2016. These funds were earmarked for service expansion across major Indian cities and for strengthening their team. The company's journey culminated in its acquisition by NestAway, a rival home rental startup, in May 2017 for an undisclosed amount. Following the acquisition, Zenify was to continue operating as a separate entity, expanding NestAway's portfolio to include offerings for family tenants in addition to its primary market of singles.
Keywords: rental management, property technology, proptech, Indian real estate, Zenify, NestAway, Sudarshan Purohit, Ankur Agarwal, Kailash Rathi, home rentals, property management, residential leasing, online rental platform, Bengaluru startup, tenant services, landlord services, rental assurance, real estate technology, City Synapse Information, assured rental returns