When you shift to a new city the biggest problem you face is a lodging problem. You cannot have homes or relatives in every city. Especially for one who is single, it’s very difficult for them to find a proper home in any family residential area. For this old problem, here you have a solution, Square Plums. So, now if you shift to Bangalore and you have nobody here, you have Square Plums to solve your lodging problem.
About the firm
Square Plums is a Bangalore based, shared accommodation discovery platform. The startup was founded by BITS Pilani alumni Rajesh Kumar Kotta and Hemant Attray, in February 2016. The company basically deals with renting home problems. Finding home on rent is a very difficult job these days.You need a broker and then pay a huge amount to them. Apart from this, you have to visit multiple apartments and homes. Finding a suitable home with all the facilities you want becomes a difficult task. Then you also need to make security deposit which is very heavy on your pocket. Besides this, sometimes buying or renting furniture and other household stuff puts more burden on you. Keeping these questions in mind the founders teamed up and founded Square Plums. “Our aim is to provide easy and affordable stay and disrupt the long stay accommodation market for young adults. Young professionals from Tier 2 and Tier 3 cities work in high-end knowledge parks and MNCs but are often forced to live at substandard bachelor pads and PGs/hostels,” said, Hemant Attray, in techcircle.vccircle.com report.
The company has raised a seed funding of $446,000 by angel investor group Indian Angel Network. According to a report on thehindubusinessline.com, IAN said in a statement, Square Plums’s founders are professionals with expertise in consumer internet and hospitality industry. The technology built by Square Plums enables users to search for, fully furnished homes in locations of their choice and matches them with other like-minded individuals who can share the home with them. On behalf of Indian Angel Network, the investment was led by VGN Prakash, Amitabh Shrivastava, Krishna Jha and Ravindra Krishnappa.
CoHo Stayz, NestAway, MagicBricks, NoBrokers, and Fella Homes are some startups who are strong contenders of Square Plums in the space.
The company plans to use the funds to bring on board more properties. They will also focus on building technology. The company is currently operating in Bangalore but they also plan for their expansion in cities like Delhi, Hyderabad, Pune, Mumbai, and Chennai.