India-based Settl, an online accommodation platform that offers millennials an excellent living experience, raised 500K on 24th November.
Investors: The investment round was led by We Founder Circle, ah! Ventures alongside several angel investors include Saurabh Jha (Director- Growth and Analytics, Housing.com), Ashu Dubey (Principal Product Manager, Linkedin), Mahesh Pillai, Senior Vice President, Pierian Services Private Limited and Abdul Paravengal (ex CBO, Shipper).
Purpose of funding: The startup will enhance its technical operations and acquire more supplies using the funds. Technology improvement since the startup is building communities for millennials in metropolitan cities as it expands its reach to customers. In addition, the startup is also using housing utilities to provide an excellent service with brand promotion in the hospitality sector. As a part of its aggressive expansion plans, Settl plans on opening locations in Delhi-NCR, Pune, and Chennai within the next six months to accommodate urban professionals.
About Settl
Founded in 2020 by Bharath Bhaskar, Abhishek Tripathi & Ashok Reddy Sagar, Settl is located in Bengaluru, India. Settl is an online accommodation platform that offers millennials an excellent living experience. The startup co-living approach provides fully-furnished rooms with 24/7 power backups, high-speed Internet, a nominal deposit, and no hidden fees. Moreover, it provides a community where people can meet for movie nights, barbeque nights, yoga sessions, community-centred property management and residential solutions. The goal is to bring together all people living on their own, to form a close-knit family.
What the founder has to say
“We are building a network that caters to the modern needs of flexi living where Settl brings thoughtfully designed spaces and curated experiences with a bunch of amenities that makes city living effortless,” said Bharath Bhaskar, Co-founder at Settl.
What the investors have to say
“Settl is disrupting the co-living concept by offering fully managed living spaces using their years of experience in this domain. They offer multi-city multi-location beautiful 1&2 BHK options at your fingertips using smart tech. Their property options are designed keeping in the taste and living standard of urban young executives and so no doubt they are growing very fast,” said Neeraj Tyagi, co-founder and CEO at We Founder Circle.
“There are competitors in the space, but the space still has a lot of potential. Since covid and work from home are coming into play – a lot has changed for the real estate world and in the rental space. Hence, a lot of people are investing to enter the market at its lowest. A lot of changes are expected to happen. Although everyone is learning as they go, the early entrants would benefit the most. Settl has great potential to become a beautiful one-of-the-first mix of co-living + co-working if the founders play their cards right,” said Karn Rajani, Venture Partner at ah! Ventures.
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