Stanza Living raises $57M in debt from led by Kotak Mahindra Bank, and RBL Bank

Stanza Living, an India-based tech-enabled managed accommodation company, announced that it had raised $57 million (~Rs 425 crore) in debt financing. This round saw the participation from Kotak Mahindra Bank and RBL Bank. Along with its existing debt provider Alteria Capital.

The raised capital will be utilized in such a way that,

to fund Stanza Living’s projects and
boost the next phase of multi-city expansion.

If we talk about the inventories of the company, then it has more than 75,000 beds; Stanza Living is the managed accommodation provider for students and working professionals migrating to over 23 cities in India.

Through the hard times of the pandemic, the startup has demonstrated a strong slowdown and has recorded one of the fastest recoveries in consumer demand over the last two quarters.

According to the recent news, Stanza Living launched a new business vertical in the form of campus facility management. A strong interest is seen by the large academic institutions and corporate houses.

The Stanza Living offers a wide range of facilities like-

chef-curated F&B options,
expertise housekeeping and laundry,
high-quality internet,
24x7 security systems,
fun creation facilities,
community programs, and
convenient mobility.

The platform creates a hassle-free living experience for thousands of migrating students and working professionals.

EXECUTIVE OPINION:

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.”

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Stanza Living raises $57M in debt from led by Kotak Mahindra Bank, and RBL Bank

Tags : Stanza Living,Stanza Living funding news,Stanza Living news

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