Jaipur, India – Ole Rooms, a Jaipur-based startup founded in 2018, is on a mission to build a global online community marketplace for individuals to discover, list, and book unique accommodations conveniently through their mobile devices or online. With a vision to address the affordability factor, the company aims to provide a seamless and cost-effective solution for individuals searching for rental rooms or flats.
CEO and Founder Devendra Sharma emphasizes the significance of price as a critical concern for customers when seeking rental accommodations. Ole Rooms aims to fulfill this need by offering an easy and affordable way to rent rooms or flats at desired costs.
Presently, the platform boasts an impressive portfolio of 3,000 listings in cities such as Jaipur, Kota, Bikaner, Ajmer, Bharatpur, and Sikar. What sets Ole Rooms apart from competitors is their commitment to not charge customers any brokerage fees. Additionally, the company prides itself on fast onboarding processes and hassle-free exits for tenants.
Inspiration and Origin Devendra Sharma, now 23 years old and an alumnus of Poornima College of Engineering in Jaipur, found himself in need of a room in Kota back in 2017. He recalls the challenges he and his father faced during the exhaustive search. Unfortunately, due to his father’s health issues, the situation escalated, and Devendra had to rush him to a nearby hospital.
This incident prompted Devendra to consider the struggles faced by countless other students searching for suitable accommodations. He realized that millions of young people wasted precious time on their daily room searches. Determined to address this problem, he embarked on creating a platform where individuals could easily view and book rooms. Sitapura in Jaipur became his initial focus, given its numerous engineering colleges and sizable student population.
Unique Features and Benefits Ole Rooms differentiates itself by offering users an intuitive interface that facilitates location-based searches and seamless onboarding processes. In addition to verified listings and round-the-clock customer support, Ole’s competitive advantage lies in its affordability. Customers can enjoy stays with meals for as low as Rs 299 per day, setting it apart from rivals such as OYO, Zolostays, Zostel, and Hostelworld.
“We are piecing together a platform to simplify, smarten, and make room rentals more affordable without compromising on quality. Finding a room or flat in a new city can be challenging, but Ole Rooms is here to rescue you,” stated the startup.
For property owners, Ole Rooms enables direct connections with tenants, eliminating the need for brokerage fees. The company caters to various rental types, including residential properties, paying guest accommodations, hostel rooms, and home rentals, providing comprehensive end-to-end solutions.
Furthermore, the startup ensures that each listing includes relevant local information about the surrounding area, such as bus stands, metro stations, shopping malls, schools, and more.
Future Expansion and Growth Devendra Sharma reveals that Ole Rooms is actively seeking external funding to support its expansion plans into cities like Delhi NCR, Lucknow, Varanasi, Indore, Bhopal, Patna, Dehradun, Chandigarh, Mumbai, and Pune.
The company has experienced remarkable revenue growth, increasing from Rs 50,000 in FY18 to Rs 60 lakh in FY22. With an ambitious outlook, Ole Rooms aims to have around 15,000 properties and 50,000 customers by the end of FY23, targeting double-digit revenue growth to reach Rs 2 crore by FY23.
Ole Rooms’ dedication to affordable and hassle-free room rentals, coupled with its expansion plans and strong revenue growth, positions the startup as a key player
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