NestAway’s Deepak Dhar moves on to start a fintech venture

Deepak Dhar, one of the four co-founders of online property rental platform NestAway Technologies Pvt. Ltd, has moved on from the company. Dhar, who will be setting up his venture in the fintech space, confirmed the move.

He was previously a founding member and operations head at payments firm Citrus Pay, which was acquired by Naspers-backed PayU.

The development was first reported by Mint. Specific queries sent to NestAway did not get a response till the time of publishing the article.

Dhar co-founded the company in 2015 with Amarendra Sahu, Jitendra Jagadev and Smruti Parida. He was responsible for product and user experience and continues to be a director with the company. According to the Mint report, Jagadev will head Hello World, the co-living-cum-co-working brand of NestAway, and Dhar's transition was under process for close to six months.

The company had launched Hello World in Bengaluru and Kota in June. Under the brand, the company leases an entire building instead of working with home-owners in a given location, which has been its mainstay. According to an interview with TechCircle, Dhar had indicated that the company was looking at asset management as a business and planned on adding it in the future.

The company, which has been in the midst of an extended Series D fundraising, collected $10 million from existing investors Tiger Global Management and Chiratae Ventures (formerly IDG Ventures India) in May. The round valued it at $200 million.