Comments
Co-living start-up Stanza Living has raised $57 million in debt financing from Kotak Mahindra Bank and RBL Bank, along with the participation of Alteria Capital.
The funding will be used for Stanza Living’s current and future projects and accelerate the company’s next phase of multi-city expansion. This debt infusion comes on the back of $100-million equity funding raised by Stanza Living mid last year.
Today, with an inventory of more than 75,000 beds, Stanza Living is the managed accommodation provider of choice for students and working professionals migrating to 23 cities across the country. Till date, Stanza Living has raised close to $220 million in debt and equity combined.
Scaling operations
Anindya Dutta, MD and Co-founder, Stanza Living, said, “This debt raise is a result of our prudent financial management and disciplined planning to stay ahead of short-term market challenges. It will provide us with ammunition to deliver a higher return on equity and continue aggressively scaling our operations across the country.”
Recently, Stanza Living also launched a new business vertical in the form of campus facility management on the back of inbound interest from large academic institutions and corporate houses, as well. Stanza Living ecosystem offers a range of amenities such as chef-curated F&B options, professional housekeeping and laundry, high-speed internet, 24x7 security systems, fun recreation facilities, engaging community programmes, convenient mobility services and more.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.