Guesture, which offers the rental, and shared accommodation is now in talks with the investors to secure $50 million, as the company is now looking to expand its presence to other cities as well, said the announcement.
“We are in discussion with private equity funds, strategic investors, and sovereign funds. We are also exploring raising funds from global markets and exchanges,” said Pramod Kumar, director, Guesture.
The company plans to secure he finds in the coming 12 months.
The firm which targets both the millennial and students between the age of 18 and 35 years, currently runs two properties that cater to working professionals and students from the Azim Premji University, IFIM Business School and Symbiosis and others.