Stanza Living, has secured $ 5.7 million in debt financing from Alteria Capital, India’s largest venture debt fund that is focused on partnering high-growth, innovative Indian start-ups. This is in addition to the $ 4.3 million raised earlier this year, taking the total debt infusion by Alteria Capital in Stanza Living up to $ 10 million.
Launched in 2017, Stanza Living today is the most capitalized player in the space, with total funding to the tune of $ 70 million from marquee global investors like Falcon Edge Capital, Sequoia Capital, Accel, Matrix Partners and Alteria Capital. The company is on an aggressive growth path and has unlocked an inventory of more than 47,500 beds in less than 3 years across key hubs like Delhi NCR, Bangalore, Pune, Hyderabad, Chennai, Coimbatore, Indore, Vadodra and Dehradun. The follow-up debt infusion showcases Stanza Living’s strong financial discipline, even as it continues to maintain its unprecedented growth trajectory. Also, the capital infusion comes as an endorsement of the company’s business model that is delivering healthy recurring revenues at scale.
Commenting on the fundraise, Anindya Dutta, Managing Director and Co-Founder, Stanza Living, said, “We are excited to deepen our partnership with Alteria Capital which reflects their confidence in our business model and growth trajectory. The capital infusion will enable us to further increase the pace of our strategic growth across markets through organic and inorganic measures.”
“As we continue to focus on transforming the shared accommodation sector in India, we are delighted to have strong financial planning support from our partners. We have scaled our high-quality living experience by over 400x in just 2.5 years of operations and will continue deepening access to consumers across the country” said Sandeep Dalmia, Managing Director and Co-Founder, Stanza Living.
“We are very excited to continue supporting Stanza Living with its focus on growing the business with strong fundamentals. 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 Mr. Ajay Hattangdi, Managing Partner, Alteria Capital.
Stanza Living’s consumer-centric proposition is reimagining shared accommodation in the country with the introduction of a high-quality living ecosystem in line with international standards that includes service-led housing solutions, amenities for hassle-free living and a vibrant community living environment.