Yuri Milner-backed fund Apoletto Asia & Sujeet Kumar invests in Nestaway

BENGALURU: Russian billionaire Yuri Milner-backed fund Apoletto Asia and early Flipkart employee Sujeet Kumar have invested in home rental network Nestaway, regulatory filings showed. Existing investor Tiger Global Management, along with IDG Ventures India, led the latest round of funding. The filings did not disclose the amount they invested, but two people with direct knowledge of the matter put it at more than $30 million.

This investment in the startup is one the largest series-B transactions in 2016, and the first deal by Tiger Global this year. Nestaway will use the cash to further strengthen its supply network and expand to multiple cities and categories over the next few months, the company said. It recently expanded its portfolio to offer homes on rent for families and individuals from offering fully furnished rooms to bachelors, taking low advance deposits.