Homversity to expand in 100+ cities and new segments3 min read
Homversity to expand over 100+ cities
India, October 21, 2022: The education sector in India is booming with a buoyant number of young students, around 35 million, enrolling themselves in more than 50,000 universities and colleges. Most of these students are unable to get accommodations in college hostels or dormitories, which are already fewer in number. The only solutions for these students are PG and private accommodations. Often, it becomes a herculean task to get safe and comfortable hostel rooms. Students searching for proper hostel rooms are part of an unorganized market that is dominated by inefficient and irregular brokers and estate agents.
There was latent demand in the market for a service to help students, working professionals, and PG hunters. This untapped market captivated the imagination of Saurav Kumar Sinha, who ended up founding Homversity. Homversity was started as a college project and went on to become one of the fastest-growing start-ups in the industry. Homversity aims to digitize and organize the searching, booking, and management of hostels/PGs/and other forms of rental accommodation.
Homversity is India’s most reliable, data-driven, and verified platform catering to the needs of lakhs of students, real estate agents, and PG owners. Backed by business intelligence, AI, and analytics, it provides a listing of hostels, PG rooms, live-in accommodations, etc., as per the need and requirements of Students. The company provides accurate and updated information, which is verified by a strong team of experts. Homversity is a one-shop-stop medium through which one can search and book hostel rooms or PG conveniently, too, with the best prices, no brokerage, and no hidden charges.
The ability to provide end-to-end services has helped companies to grow at a rapid pace. With a monthly booking of 2 lakhs per month in January 2022, within six months, it has catapulted itself to around 2 Crore in monthly booking by July 2022. This exponential growth has allowed the company to build a strong base for its future growth. It has also helped thousands of Private hostels, homes, and PG Owners to engage with the right mix of customers they want to connect. Homversity began its services by catering to a few Tier 1 cities. Now it has spread its operations and gets business from cities like Kota, Dehradun, Ahmedabad, Indore, Bengaluru, Delhi & NCR, which are part of an ever-increasing list of cities in its portfolio. Handling diverse sets of customers in different regions has allowed Homversity to deepen its understanding of markets which has enhanced its stability.
Homversity has received multiple rounds of funding from elite investment firms and HNIs. A strong customer base and series of funding have provided it with much-needed fuel to capture new markets. Its ambitious target to expand to more than 100+ cities and 5 lakh beds doesn’t seem to be a difficult task now. It is investing in technology to make its services more scalable, targeted, and efficient. The platform’s offering will be improved with a new property management suite and several data-driven solutions, which will provide a richer experience to its customer base. With a focus on design and product Development University intends to offer more value-added services in the near future.
For more information, visit: https://www.homversity.com/
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