Stanza Living has secured $57 million in debt financing from Kotak Mahindra Bank and other investors
- ByStartupStory | March 23, 2022
Stanza Living, a managed accomodation provider, has raised $57 million (Rs 425 crore) in debt financing from Kotak Mahindra Bank and RBL Bank, as well as its previous finance provider Alteria Capital.
The funds will be used to pay capital expenditures for current and future Stanza Living projects, as well as to speed up the company’s next phase of multi-city expansion. Stanza Living raised a healthy $100 million in equity capital in the middle of last year, which was followed by this loan infusion.
Stanza Living, which boasts over 75,000 beds in 23 locations around the country, provides shared housing for students and working people. Stanza Living has raised about $220 million in debt and equity so far.
Stanza Living recently introduced a new business vertical in the shape of campus facility management, in response to increasing interest from large academic institutions and corporations.
In India, the managed accommodation sector has seen a multi-fold surge in demand for dependable, high-quality, and safe lodging options, particularly in the aftermath of the epidemic. As the popularity of hybrid work/study models grows, operators like Stanza Living are developing solutions for a wide range of customer categories as the sector continues to draw investment.
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