Kochi-based rental space startup Livvehomes on Thursday said it has raised $5 million (about ₹36 crore) from angel investors in the second funding round.
The startup offers online deposit and payment platforms for owners as well as for tenants.
The five-year-old Livvehomes had previously raised $1.5 million and the latest round takes its total external capital to $6.5 million till date.
Livvehomes takes up unfurnished and semi-furnished homes from the owners, furnishes them and then rents them to tenants without any deposits. This increases the value of the property apart from giving both the owners and tenants a safe and secure platform to transact on.
Tenants are provided a zero deposit model with a better living experience in fully renovated houses with furniture, decor and appliances. On the other hand it also ensures that the tenants don’t get harassed for their deposits when they vacate through the deposit-free model.
The company has over 4,800 properties across Delhi/NCR, Bengaluru, Pune, Dubai and other regions.
“Our objective is to change how people perceive rental space. The fund will be used to renovate more and more homes and make them a totally functional, beautiful living space,” Chief Operating Officer Mayya Lakshman said.
As of now we have renovated over 4,500 houses and we are looking forward to making at least 12,000 houses by the end of the year, she said.
Lakshman also said they will soon start furniture and interiors showrooms in Pune, Bengaluru, Delhi-NCR, Hyderabad, and Chennai which will primarily be used at those homes renovated by it.
