The Gurgaon-based home rental startup Fella Homes is upping the ante in its sector through a robust expansion strategy. The company made a major move ahead by acquiring its Noida-based competitor LifePad recently in an all cash deal. With this acquisition, the customers of Fella Homes have now an access to a larger network of homes to choose from.
Fella Homes also recently received a seed fund of US$2M from undisclosed investors, which they are utilizing in acquiring new properties and tenants, team building and product development.Apart from these major developments, the company is also hiring across verticals and planning to grow its team size considerably.
Speaking on the plans, Mr Digendra Singh Rathore, Co-Founder and CEO at Fella Homes said “The demand of furnished shared-rental homes is seeing an unprecedented growth but still there a lot unexplored. Among the key players, there is a stiff competition in the market, but our success mostly depends upon the technological strength, customer delight and industry-specific detail insights.”
The startup is currently operational in Gurgaon and Noida with 160+ homes and 700+ tenants. By the end of 2016, Fella Homes is planning to launch its operations in Bangalore, Pune, and Hyderabad, with a target of 3000+ tenants. Fella Homes aims to provide a smart and hassle free lifestyle to the millennials looking out for the new way of living.