Bengaluru-based proptech startup Crib on Tuesday said it is providing tech solutions to more than 1,000 individuals or entities that provide rental accommodation to students and working professionals and aims to close this fiscal with an annual revenue run rate of Rs 6.5 crore.
These clients use Crib’s app and software for effective property and tenant management. Crib caters to both traditional hostels and contemporary co-living setups.
“In the last 15 months (since inception), we have acquired more than 1,000 clients with an aggregate capacity of over 1.5 lakh beds across major cities,” Crib CEO Sunny Garg said in a statement.
Crib’s app also helps prospective tenants find suitable rental options and assists existing tenants with rent payments, and reporting issues and other operational matters.
Crib, which was formed in 2022 by Sunny Garg, Shaifali Jain, and Archit Chauhan, has raised over USD 2.2 million so far from investors.
“Our journey began with a vision to simplify and enhance the rental housing experience for landlords and tenants. We hope to close this financial year with an annual recurring revenue of about Rs 6.5 crore from our SaaS offerings,” Garg said.
The use of technologies in real estate has increased significantly since the outbreak of the Covid-19 pandemic. According to Housing.com data, proptech firms have raised over USD 4 billion since 2009.
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First Published: Sep 12 2023 | 3:47 PM IST