Indian student housing startup Stanza Living raises US$4.4M funding
India’s student housing operator Stanza Living announced that it has raised INR 30 crores (US$4.4 million) fresh venture debt from Alteria Capital, bringing a total funding of INR 115 crores (USD16.7 million) over the last 15 months. Earlier, the company raised funding from investors like Sequoia Capital, Matrix, and Accel Partners.
“The student housing segment in India is largely unorganized, suffering from several infrastructure and service quality gaps. We offer a student living experience that mirrors international standards,” said Anindya Dutta, Managing Director and Co-Founder, Stanza Living.
Dutta said that the funding will be used to unlock an inventory of one lakh beds by 2021 and bring Stanza Living brand experience to students across India. The company will also be working on developing financing and funding structures relevant to the business.
Stanza Living offers a new-student living models encompassing a service-led housing solution, proprietary community-building personal and professional development programmes and a high-quality ecosystem catering to diverse student requirements. The company said it has scaled the business by unlocking an inventory of 15,000 beds across Delhi NCR, Bangalore, Pune, Hyderabad, Chennai, Indore, Vadodra, and Dehradun in 2019.