Co-living startup Stanza Living has raised $57 million in debt funding from Kotak Mahindra Bank and RBL Bank, along with participation from Alteria Capital.
The funding will be used for Stanza Living’s current and future projects and will accelerate the company’s next phase of multi-city expansion. This debt injection builds on a $100 million equity financing raised by Stanza Living in the middle of last year.
Today, with an inventory of over 75,000 beds, Stanza Living is the managed accommodation provider of choice for students and professionals migrating to 23 cities across the country. To date, Stanza Living has raised nearly $220 million in debt and equity combined.
Anindya Dutta, MD and co-founder of Stanza Living, said, “This increase in debt is the result of our careful financial management and disciplined planning to stay ahead of near-term market challenges. This will provide us with ammunition to deliver a higher return on equity and continue to aggressively grow our operations across the country. »
Recently, Stanza Living also launched a new vertical business in the form of campus facilities management thanks to interest from major academic institutions and corporations. The Stanza Living ecosystem offers a range of amenities such as chef-curated dining options, professional housekeeping and laundry, high-speed internet, 24/7 security systems, fun recreational facilities, engaging community programs, convenient mobility services and more.
March 23, 2022