Stanza Living raises $57M in debt from led by Kotak Mahindra Bank, RBL Bank
Stanza Living, an India-based tech-enabled managed accommodation company, on Wednesday announced that it has secured $57 million (~Rs 425 crore) in debt financing, led by Kotak Mahindra Bank and RBL Bank, with its existing debt provider Alteria Capital also participating.
The capital will be utilised to fund Stanza Living’s current and future projects and accelerate the startup’s next phase of multi-city expansion. This debt infusion comes on the back of the $100 million equity funding raised by Stanza Living mid last year. Stanza Living has raised close to $220 million in debt and equity combined to date.
Commenting on the financing deal, 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.”
With an inventory of more than 75,000 beds, Stanza Living is the managed accommodation provider for students and working professionals migrating to 23 cities across the country.
Trumping the initial slowdown caused by the pandemic, the startup has demonstrated strong resilience and has recorded one of the fastest recoveries in consumer demand over the last two quarters, claims the startup.
Recently, Stanza Living also launched a new business vertical in the form of campus facility management on the back of strong inbound interest from large academic institutions and corporate houses, as well. Today, the Stanza Living ecosystem offers a wide range of amenities like chef-curated F&B options, professional housekeeping and laundry, high-speed internet, 24×7 security systems, fun recreation facilities, engaging community programmes, convenient mobility services and more – creating a hassle-free living experience for lakhs of migrating students and working professionals.
Stanza Living is apparently a moving startup with prodding improvement on hospitality platform. I’m sure this startup would continue to prosper in its journey ahead. My best wishes to the entire group of Stanza Living. This will give them a giant accomplishment later on.Shishir Gupta, Founder and CEO, StartupLanes
Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.
If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.
You can subscribe to our news posts by entering your email in the box on the right side of this page.
Check out our YouTube channel for insightful content from the Indian startup ecosystem.
The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.
Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.