Services
Homversity
SEASON 3 : Episode 3
BRAND
Homversity
COMPANY NAME
DWELLERIN VENTURA PRIVATE LIMITED
FOUNDERS
Saurav Kumar Sinha
ORIGNAL ASK
65 lakhs for 2% equity at the valuation of Rs. 32.5 crores
DEAL
No Deal
For landlords, the Lord App offers a seamless paperless tenant check-in and KYC process, simplifying onboarding by digitally collecting necessary documents. The app facilitates digital rent collection, enabling easy tracking of complaints, rent payments, and bed vacancies. With the ability to set the property on autopilot mode, landlords can delegate tasks by adding a manager and supervise operations from anywhere.
Tenants benefit from the Buddies App, where they can effortlessly pay rent digitally, receiving timely reminders to ensure they never miss a due date. The app encourages social connections by allowing tenants to explore and connect with like-minded individuals in their new city. It provides hassle-free stay features, including digital service requests, outpasses, food polls, and more, enhancing overall convenience for a smooth living experience.
Homversity’s website complements these apps, offering an additional layer of functionality. It introduces “Homversity HealthyNew,” ensuring that no more bad hostel food experiences with the initiative. This feature allows residents to access healthy and tasty food options directly at their hostels, bringing a new level of culinary satisfaction to their stay. Homversity’s commitment to enhancing the overall living experience is evident in these integrated solutions across their apps and website.
Founders & their story
- Saurav Kumar Sinha
Homversity, spearheaded by founder Saurav, addresses the prevalent challenges in the accommodation sector, including limited options, high brokerage fees, substandard hostel conditions, and unhygienic food. This innovative digital housing platform, available as an app and website, revolutionizes the way students and working professionals find suitable lodging. Notably, it operates sans brokerage or hidden fees, catering to a diverse array of needs. By leveraging technology, Homversity also empowers property owners in efficiently managing their accommodations. Currently operating in 30 cities, the platform has served over 1.1 lakhs beds, aiming to fill a substantial gap as only 10-15% of students secure university-provided accommodation. Distinguishing itself from competitors, Homversity operates as a SaaS-based marketplace, establishing a stringent onboarding process. Hostels must meet at least 75% of the 145 parameters defined for optimal functioning. To ensure accuracy, the platform mandates updated photos every three months. Since its launch in January 2022, Homversity has successfully addressed the critical pain points within the accommodation industry, promising a seamless and technology-driven experience for both tenants and property owners alike.
About the company:
Homversity, driven by Saurav Kumar Sinha and a dedicated team, is at the forefront of digitally transforming India’s expansive student housing and co-living sector through technology, innovation, and a deep sense of empathy. Operating in diverse cities such as Delhi, Bangalore, Ahmedabad, Noida, Jaipur, and Kota, Homversity addresses the challenges faced by students and working professionals when navigating the complexities of searching, booking, and staying in hostels, PGs, flats, or other accommodations. The platform provides downloadable apps for both tenants and landlords, fostering a user-friendly experience. The commitment to solving accommodation issues is complemented by an array of interesting blogs featured on their website. Homversity’s recent entry into the market marks a significant step towards revolutionizing the accommodation landscape for individuals on the move, promising a seamless and tech-driven solution.
Revenue:
Homversity operates on a diversified revenue model, generating income through various streams. The primary sources include commissions from bookings, a SaaS application fee of Rs 30 per bed per month, and additional income from services such as maintenance. As of FY 23-24, with bookings totaling almost 3 crores until August and an additional 1 crore in September, the platform has demonstrated substantial transaction volume. Notably, the average accommodation duration varies, being 3 months in metropolitan areas like Delhi or Bangalore and extending to 6 months in cities like Kota or Dehradun. The conversion rate from website login to booking stands at a commendable 10%. Despite monthly revenues reaching 2 lakhs, expenses are reported at 8 lakhs, revealing areas for potential optimization. Looking ahead to FY 24-25, the platform anticipates a significant upswing, projecting a robust revenue of 5.6 crores. This outlook, coupled with an evolving business model, positions Homversity for continued improvement in the dynamic accommodation marketplace.
Founders’ Ask
65 lakhs for 2% equity at the valuation of Rs. 32.5 crores.
No Deal
Reasons for no deal:
Vineeta: She holds the belief that the business may face challenges in terms of scalability and profitability for property owners.
Anupam: The considered that the Founder has a goal and energy but lacks business maturity.
Aman: He stated that being profitable in this industry is difficult.
Piyush: He expressed concern about the business, citing a lack of focus in problem-solving and being susceptible to too many distractions.
Ritesh: His suggestion is to narrow the business scope to a few cities rather than pursuing a pan-India approach. Additionally, he said that it is too early to determine whether the business will evolve into a SaaS model, marketplace, or brand within the next few years.
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