Athough hotel remains a major player in the accommodation business, several new offerings such as, homestays and serviced apartments have started to trend. In line to this rising demand, 14 Square, which provides serviced apartments in various cities of India, has today raised an undisclosed amount in its seed funding round. With the funding amount raised in the current round, the company will now be looking forward to expand its business.
14 Square was founded by Gaurang Chandarana and Prashant Maharaj in 2015. The reason behind founding 14 Square was to provide a seamless, stress-free and affordable stay experience for travelers in India. The standardized services in the apartment include a centralized concierge, free wi-fi, breakfast, home cooked food and wellness programs, ensuring quality with value for money.
Gaurang holds an MBA degree and has years of experience in the banking and finance sectors. His expertise lies in mortgages, service quality, risk & running large teams and geographies. On the other hand, Prashant is a management post graduate with extensive domestic and international experience in the areas of process KPO and property legal services.
14 Square claims to be India’s first standardized, national chain of serviced apartments. The serviced apartments offer an experience of living, which is completely different from a hotel stay. The apartments of 14 Square are much more casual, homely and conveniently located close to business and residential areas.
The company says that its dedicated and enthusiastic team ensures that users have a comfortable experience right from booking to check-out. The serviced apartments are currently available in around 20 cities across India. The company is rapidly expanding its services and says that it will keep adding cities.
The 14 Square apartments are ideal for stays which extend for a few days. All of them have certain features which help you become comfortable: fully furnished apartments, fully equipped kitchens, common living spaces, apartments located in safe and convenient areas. Currently, the service in available in Delhi, Mumbai, Pune, Kolkata, Bangalore, Ahmedabad, Chennai, Gurgaon, Goa, Hyderabad, Nashik, Jaipur, Agra, Shimla, Coimbatore and Visakhapatnam.
In this space of serviced apartment, 14 Square will compete against the likes of Oakwood and Formula Group. The main client base for such offerings is the corporate sector, where executives of multinational companies (MNCs) and expatriates come to India for periods ranging from weeks to months.