A Bengaluru-based, technology-driven accommodation platform, Settl. Has got $500,000 in Seed round. We Founder Circle, Ah! Ventures and other investors like Saurabh Jha, who is the director of Growth and Analytics, Housing.com, Principal Product Manager of LinkedIn Ashu Dubey, Senior Vice President of Pierian Services Pvt Ltd, Mahesh Pillai, and Ex CBO of Shipper, Abdul Paravengal participated in that round.
Settl. focused on providing a convenient and high-quality living experience. Settl. provides fully furnished rooms, 24/7 power backups, high-speed internet, nominal deposit to all-inclusive rent. Their co-living spaces will take care of guests and their needs. Their USP is to facilitate technology-enabled property management. The company plans to use funds to enhance the technology stack and get more supplies. With that Settl. have a plan to expand aggressively in the cities of Delhi, Pune, and Chennai. Their target is creating an inventory of more than 2k beds in the coming 6 months for the urban professionals.
The Company says:
According to the company, Settl. has locked 1,200 beds in two cities in a little over 1 year. It has witnessed a 30% rise in demand quarter on quarter. It aims to serve over 3k customers per month by using the fresh fund infusion. In the words of Bharath Bhaskar, co-founded of Settle, they are building a network that caters to the modern needs of Flexi living, where with a bunch of amenities that makes city living effortless, Settle brings thoughtfully designed and curated experiences.
We Founder speaks:
We Founder is a Mumbai-based global community of successful founders, established in 2020. The Co-founded and CEO of We Founder, Neeraj Tyagi thinks that, by offering fully managed living spaces using their years of experience in the Co-living domain, Settl is disrupting the concept of this domain. One can find beautiful 1 and 2 BHK options in multi City, multi-location at their fingertips by using smart technology.
Ah! Ventures speak:
Karan Rajani, the venture partner of Ah! Ventures said that may the space have many competitors but it still has a lot of potentials. A lot has changed for the Real Estate world and in the rental space, due to COVID and work from home. When the market is at its lowest, a lot of people are interested in investing in this sector to enter here. If the founders play their cards right, Settle has a huge potential to become one of the first beautiful mix of co-living, co-working.