GetSetHome is a Mumbai-based online platform, that facilitates managed rental accommodations. This platform has successfully raised around $1 million from Mistry Ventures in a seed funding round. The round was led by a Mumbai-based VC firm.
GetSetHome was established in 2014 by three people: Junaid Ahmed, Shabnam Kadwai, along Muddassar Virani. This brand focuses on providing completely furnished accommodation to people on a shared and non-sharing basis on rent.
This startup caters mainly to students and professionally working people who relocate within or to Mumbai or Pune.
The plans of GetSetHome
With the latest capital acquired, the brand plans to work on its growth by expanding into new micro markets. Also, it plans to enhance the platform and improve user expertise to increase its customer presence in Mumbai as well as Pune.
Junaid Shaikh, one of the co-founders, said that the startup has already helped more than 12, 000 individuals secure quick and secure accommodations. Also, its partner properties maintain more than 90% occupancy rates.
The startup is planning to broaden its user base to around 50, 000 within two years. In the space of rental accommodation, the process involves various things like a fragmented brokerage system, upfront payments, properties with no minimal amenities, extensive travel, etc. GetSetHome is planning to streamline the house-hunting process by allowing people or customers to explore verified homes. This will be done via photos and making bookings directly.
The platform is also planning to increase rental yields for property owners, like developers, from the $2 industry standard to around 6%. Also, the owners listing with GetSetHome will be able to get the benefit from minimum broker interactions, no frequent property showings, and lengthy documentation.
With the help of AI, ML, and big data, this startup offers rental solutions by providing insights into micro market demands, analytics, and suitable tenant-owner matches, along with risk assessments.
About Mistry Ventures
Mistry Ventures was founded in 2018. The late Cyrus Mistry was the person behind it. However, it is currently managed by Ashish Iyer. He funds startups in various sectors and has invested in D2C, SaaS, etc.
The proptech sector in India is estimated to be $1 trillion by 2020, with significant growth. However, early players such as NestAway, Coho, etc. used to play an essential role in leveraging technology for better growth. Also, various investments in Indian proptech startups have increased to around $4 billion between 2009 and 2022. This is bringing about a great evolution in this sector.
