Founded in 2018, based out of Jaipur, Ole Rooms aims to build a trusted online community marketplace for people to list, discover and book unique accommodations worldwide – online or from a mobile phone.
Devendra Sharma, the founder & CEO, said price is an important concern for customers when looking for rooms/Flat for rent. Ole Rooms aims to fulfil the customer’s need by providing an easy way to rent a room/Flat at the desired cost.
The platform currently has 3,000 listings across places such as Jaipur, Kota, Bikaner, Ajmer, Bharatpur, and Sikar. Unlike others, Devendra said Ole Rooms does not charge brokerage from customers and provides fast onboarding and hassle-free exit.
How it started
Graduate of the Poornima College of Engineering, Jaipur, Devendra, now 23, was searching for a room to stay in Kota back in 2017.
I and my father kept looking for rooms all day long,” says Devendra. “But my father, who had blood pressure and diabetes, collapsed and I had to rush him to a hospital in Kota.”
The episode made him think about the problems other students must be facing in finding suitable accommodation. “Millions of young people would be searching for a room every day and will waste their precious time for it,” says Devendra.
“I thought, why not make such a platform where people can see the room and book it with ease?” He started working on the idea and chose Sitapura in Jaipur as his first target because it has several engineering colleges and a sizeable student population.
What makes it different from others
According to Devendra, Ole Rooms is built in a way to make it easy for anyone to look for accommodation location-wise and do the onboarding itself.
Apart from verified listings and 24*7 customer support, OLE’s low prices, coupled stay with meals available for just Rs 299 per day, are its USP against competitors such as OYO, Zolostays, Zostel, and Hostelworld.
“We are putting the pieces together to make room rental services simpler, smarter and cheaper without compromising with the quality of your living. “It’s difficult to find a room/Flat when you are in a new city. Don’t worry; Ole Rooms is here to rescue you,” the startup said.
For owners, Ole Rooms helps them to connect with tenants directly, enabling brokerage-free rentals. The startup said it deals with various rental types like residential, paying guests, hostel rooms, and homerooms, along with all other rental needs with end-to-end solutions.
The startup also said that every listing is provided with local information about the area, such as Bus stands, Metro stations, Shopping malls, Schools, etc.
Devendra says Ole Rooms is looking for external funding to support its expansion plans to other cities such as Delhi NCR, Lucknow, Varanasi, Indore, Bhopal, Patna, Dehradun, Chandigarh, Mumbai, and Pune.
He also said that Ole Rooms has seen a significant jump in revenue from Rs 50,000 in FY18 to Rs 60 lakh in FY22. “We plan to have about 15,000 properties and 50,000 customers by the end of FY23, along with double-digit revenue growth to reach Rs 2 Cr by FY23,” he adds.