How much do you trust a bootstrapped startup to manage your wealth? Apparently, there is no trust deficit as Bengaluru-based real estate wealth management startup Indiassetz testifies. There is proof though as the startup counts numerous HNIs (High Net Individuals) and NRIs in its clientele.
Born in 2014, Indiassetz has more than 4,000 registered HNIs and NRIs as its customers currently with a cumulative property asset value of around Rs 2,500 crore. First Wipro employee in India, Dr Sridhar Mitta, Hexaware President Sandeep Dhar, HSBC Regional Head Sai Narain, former Karnataka additional chief secretary K. Jairaj are among the thousands of customers Indiassetz serves.
The customers trust the startup so much that many of these HNIs and NRIs do not even physically come and inspect their properties, Indiassetz claims. The company even manages the sale of the clients' properties.
The company claims to have a growth rate of 100 per cent every fiscal. Indiassetz has multiple offices across the country and has its own workforce to manage things. The start up is bootstrapped and has still not scouted for VC or angel funding.
The company broadly provides end-to-end property management services that include tenancy management, liaison work with the government, property advisory, maintenance of properties, interiors, finance and even buying and selling properties of individuals in India. “There are multiple pain points that HNIs and NRIs face with their individual properties. They have multiple properties in India, but there is no one to manage them here. Some of them cannot even trust their relatives to manage their properties. They have huge wealth of properties, but either they have settled abroad or stay in other cities in India and it is not possible for them to physically manage their property wealth," says Shivam Sinha, founder and CEO, Indiassetz.
Suppose an NRI or a HNI has multiple properties across the country, but cannot manage these sitting far away due to their busy schedules, Indiassetz steps in. The company takes care of all their pain points of managing their individual properties. "We help them in getting tenants, selling their properties, leasing out their properties or maintaining the interior of their properties, etc. Through our technology platform, they can see each and every aspect of their property as to how it is being managed,” Sinha says.
- OPINION: How can startups keep business games strong amid COVID-19 pandemic?
- COVID-19 could dry up startup funding as investors hit the brakes
- Lockdown, Sec 144 in major cities: Indian startups' 4-point plan to curb coronavirus
- Oyo's Ritesh Agarwal is second only to Kylie Jenner in youngest global billionaires' list
Similar business models were already existent in India, but had been highly unorganised.
Indiassetz's technology platform is the differentiator here. It helps the clients to focus on their business rather than worrying about their properties. The digital platform enables customers to monitor their properties round the clock from anywhere in the world. The customers can see their entire real estate portfolio on the run, sitting in any part of the world and get real time updates through the website. They are also able to map their portfolio and future property investments across the cities in India through this platform.
"Sometimes, the NRIs may not be interested in coming down to India regularly even though they may have multiple properties in the country. From paying their property tax and updating their property documents regularly, we manage everything around their property. We charge a fees for our services. Since we work with multiple banks and our services are already acknowledged by the banks, the customers have full faith and trust in us," Sinha, who was a former banker, explains.