ZoloStays raises $30 million in Series B led by Nexus Venture Partners
ZoloStays Property Solutions, a co-living and home rental startup, has raised $30 million in a funding round led by existing investor Nexus Venture Partners to fuel its expansion plan.
The Series B funding round also saw participation from IDFC Alternatives and Mirae Asset, as media had reported in November last year. The transaction is estimated to have pushed up the company’s valuation by more than $100 million.
The Bengaluru-based startup, which has a platform that serves as a market place for property solutions like paying guest accommodation, service apartments and independent flats, will use the money to expand its footprint across the metro cities, according to Nikhil Sikri, its co-founder.
The company currently operates in Bengaluru, Hyderabad, Pune, Chennai and Kota and has tied up with numerous building owners and large developers for its expansion plan.