Multilingiving Technologies, a residential real estate tech platform offering rental and subscription-based services, said it planned to expand its services in Mumbai and expand to 5 more cities over the next two years. A top executive said the firm is in talks to raise “substantial” capital for its expansion. He said that the need for larger-than-home households to work during an epidemic increases the firm’s demand for services.
“In January 2020 we used to onboard 10 apartments a month and the number increased to 750 apartments a month in March 2021. Now, we have 2500 apartments and by March 2022 the number will increase to 25,000.” , CEO and Founder.
He said that now onboard 700 apartments a month, the firm will operate 6,500 units a month by March 2022 in Mumbai alone.
To achieve its plans of a portfolio of 1,15,000 apartments by March 2023, the firm has announced plans to enter Bangalore and Pune during the current financial year and Chennai, Hyderabad and NCR Delhi in the next financial year.
Mr. Singh said that the firm raised $ 6 million in funding from Abandhan Lodha’s yesterday’s capital in March 2020 and that the next round of funding will be increased.
He said the firm sources apartments from landlords and provides homes and many services to potential tenants. He said that the firm is helping to solve the problems faced by tenants and property owners in the rent eco-system and streamlining the house-rental space for urban families through the intervention of data and technology .
In addition to home structural audits for preventive care, home maintenance and concierge services, the firm is now gearing up to unveil technology offerings to prevent energy wastage in smart homes.
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