GetSetHome Secures $1M Seed Funding from Mistry Ventures

Mumbai-based proptech startup GetSetHome has raised $1 million in a seed funding round led by Mistry Ventures, propelling its mission to reshape the rental accommodation landscape in Mumbai and Pune. Founded in 2014, the platform, co-founded by Junaid Shaikh, Shabnam Kadwani, and Muddassar Virani, focuses on providing fully furnished rental options for students and professionals.

Armed with the recent funding, GetSetHome aims to accelerate its growth by venturing into new micro markets. The startup plans to enhance its platform and user experience, solidifying its presence in Mumbai and Pune, where it currently operates. Junaid Shaikh, a co-founder, shared the ambitious goal of increasing their user base to 50,000 within the next two years.

Streamlining the Process

Traditional house-hunting often involves a fragmented brokerage system, high upfront payments, and properties lacking essential amenities. GetSetHome seeks to simplify this process by allowing users to explore verified homes through photos and directly book accommodations. The platform eliminates intermediaries and provides a seamless experience for individuals relocating to or within these cities.

The startup goes beyond facilitating tenant searches; it also aims to enhance rental yields for property owners, including developers. GetSetHome claims to elevate the industry standard of 2 percent to an impressive average of 6 percent. Property owners listing with GetSetHome benefit from reduced broker interactions, freeing them from frequent property showings and complex documentation.

GetSetHome leverages cutting-edge technologies such as AI, ML, and big data to provide insights into micro-market demands. The platform utilizes predictive analytics to match property owners with suitable tenants while conducting risk assessments. This innovative approach sets GetSetHome apart in a competitive landscape that includes players like Ishtara, Stanza Living, Nestaway, and Zolo.

Proptech Sector Dynamics

India’s proptech sector, anticipated to reach a $1 trillion opportunity by 2030, has witnessed remarkable growth. Coliving, in particular, has been a key driver, with early players like NestAway, Zolostays, and Coho harnessing technology for specialized market growth. The sector has attracted substantial investments, with $4 billion raised between 2009 and 2022.

Zahan Mistry of Mistry Ventures expressed confidence in GetSetHome’s capabilities and said, “GetSetHome’s technological and operational capabilities address key pain points for tenants and owners within the rental ecosystem. With a strong leadership team, we are excited to partner with them in their next growth phase.”

GetSetHome’s recent funding injection positions the startup for accelerated growth and continued innovation in the proptech space. As it expands into new markets and refines its platform, the company aims to set new standards for rental accommodations, benefiting both tenants and property owners alike.

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