Realty management startup Nestaway Technologies has taken over ApnaComplex, an apartment management and security solution company. This is a synergistic acquisition since Nestaway manages properties, both residential and commercial, on behalf of its owners and ApnaComplex manages gated complexes providing end-to-end solutions like managing the maintenance and security of the complexes.
While Nestaway boasts of 150,000 units spread over 15 cities being managed by it, ApnaComplex is said to have the mandate to manage 20,000 societies located in 80+ cities though a majority of these would be in cities like Bengaluru, NCR, Mumbai, Pune, and Hyderabad. Of the two, ApnaComplex is the older organisation having been formed in 2010, while Nestaway was started in 2015. The latter counts among its investors, Tiger Global, Chiratae, Goldman Sachs, Ratan Tata, and Yuri Milner.
Though under the Nestaway umbrella, ApnaComplex will continue to operate independently.
Nestaway has been offering a range of services to the owners of houses it manages. It can handle the painting of the houses, deep cleaning and pest control services and so on. The company claims to charge very competitive prices for these, which makes things easier for property owners, leaving everything to Nestaway. With the addition of ApnaComplex, Nestaway is in a position to expand its offerings and to scale up geographically since ApnaComplex already has a much larger footprint.
At one level, the owner of the property and the residents if they have rented them through Nestaway, will become customers for the companies. If the owners themselves are residents in the complexes, ApnaComplex is already servicing them. It’s a win-win formula for both.
As it happens with most such mergers or joint operations, the customers of both look forward to gaining from this association since most of what they will require for their residential properties, will be provided by either of them.
The statement put out by both the companies does not specify the value of the consideration for this acquisition and also the fate of the founders of ApnaComplex, whether they will continue or not.