Housing startup Stanza Living, has secured $5.7 million (approx INR 40 crore) in debt financing from Alteria Capital, reported Mint.
Anindya Dutta, managing director and co-founder Stanza Living, said, “The capital infusion will enable us to further increase the pace of our strategic growth across markets through organic and inorganic measures.”
Founded in 2017 by Sandeep Dalmia and Anindya Dutta, Stanza Living is creating a student-centric proposition with 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 offers a full-stack business model, which it claims enables it to design spaces and tailor its services to cater to their specific needs and desires.
The Delhi-based startup Stanza Living claims to have 100 beds in Delhi University’s North Campus area and has since aggressively grown its operations.
The company aims to re-imagine hostel living by offering high-quality residences and supporting services such as common areas, gaming zones and even gyms. Other value-added services that are offered include doctor and laundry services and internet packages.
As per its LinkedIn page, till date, it has unlocked an inventory of more than 47,500 beds across key hubs like Delhi NCR, Bangalore, Pune, Hyderabad, Chennai, Coimbatore, Indore, Vadodra, and Dehradun.
The startup will continue to focus on transforming the shared accommodation sector in India, and the financial support will help them continue deepening access to consumers across the country, Anindya added.
“Through this partnership, we are together working on creating financing and funding structures that will set a new precedent for the industry in India,” said Ajay Hattangdi, managing partner at Alteria Capital.
While, some of the housing startup that fall under the similar domain include PropTiger, NestAway, Awfis, ZoloStays, SquareYards, NoBroker, etc.