Co-living startup Settl raises $500,000

By Pallavi Dubey | NT

Co-living startup Settl has bagged $500,000 in the seed round. This Bengalurubased firm caters to millennials with disposable income by offering them fully furnished rooms, cleaning and maintenance services, utilities, furniture, high-speed internet, round-the-clock security and other amenities for a nominal deposit.

As it is tech-enabled, rent seekers can move in at a short notice and can avoid brokers.

The funding round witnessed participation from We Founder Circle, ah! Ventures and other angel investors like Saurabh Jha (Director, Housing.com), Ashu Dubey (Principal Product Manager-Linkedin), Mahesh Pillai, Senior Vice President, Pierian Services Private Limited and Abdul Paravengal (ex CBO, Shipper).

In less than a year, Settl has locked 1,200 beds across two cities – Bengaluru and Hyderabad, and is witnessing a rise in demand at the rate of 30% quarter-on-quarter. With the fresh funds’ infusion, it aims to expand to DelhiNCR, Pune, and Chennai.

Settl Co-Founder Bharath Bhaskar said, “The co-living culture provides a user-friendly experience by catering to all demands. Every co-living company is now aiming to provide additional amenities, such as lounge rooms, recreational areas and community activities. As a result, student housing will experience massive and unprecedented expansion in the real estate industry in the future. Several real estate properties are partnering with co-living companies to create and develop properties.”

“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 multilocation beautiful 1&2 BHK options at your fingertips using smart tech. Their property options are designed keeping in the taste & living standard of urban young executives & so no doubt they are growing very fast. We are happy to support the founders,” said Neeraj Tyagi-Co-founder and CEO, We Founder.