AI-powered property management platform Crib App has acquired CirclePe, a rent financing startup focused on eliminating upfront security deposits for tenants, in a move aimed at creating an integrated technology and financing platform for India’s co-living, hostel, and PG ecosystem.
The acquisition brings financing directly into the rental lifecycle, enabling tenants to move into rental accommodations without paying large security deposits upfront while allowing property operators to receive rent and deposit-related financing in advance. The integrated model is expected to improve operators’ cash flow and working capital while making renting more affordable for tenants.
Following the acquisition, Crib App and CirclePe will operate as a single unified platform, combining property management software with embedded financial services for the rental housing market.
Founded by Navan Jaiswal and Ankur Yadav, CirclePe partners with non-banking financial companies (NBFCs) to finance tenants’ security deposits and rent commitments. Under its model, the financing is disbursed upfront to property operators, while tenants repay the amount through convenient monthly installments.
CirclePe had raised nearly Rs 7.5 crore in a pre-seed funding round in May 2024 at a valuation of around Rs 35 crore. The round was led by OTP Ventures, with participation from 1947 Rise, iSeed, IIT Delhi, Venture Catalysts, and other investors.
Crib App was co-founded by Sunny Garg, Shaifali Jain, and Archit Chauhan to simplify operations for India’s rapidly growing co-living and managed accommodation sector. The AI-powered platform enables operators to manage occupancy, resident records, payments, maintenance, and day-to-day operations through a unified digital system.
According to the company, Crib currently works with more than 2,500 property operators across India and has raised approximately $3.64 million through seven funding rounds to date.
The acquisition reflects the growing convergence of PropTech and FinTech, as technology platforms increasingly integrate financial services to improve user experience and operational efficiency. By combining AI-driven property management with embedded rent financing, the merged platform aims to simplify the rental journey for tenants while providing property operators with improved liquidity and streamlined operations.
As India’s co-living and rental housing market continues to expand, the combined capabilities of Crib App and CirclePe position the company to offer an end-to-end solution covering property management, payments, financing, and resident experience under a single platform.
