Stanza Living Raises $4.4 Mn In Venture Debt From Alteria

Stanza Living Raises $4.4 Mn In Venture Debt From Alteria

SUMMARY

The company will use funds to build inventory of 1 Lakh beds by 2021

Strategic partnership with Alteria will help Stanza work on developing interesting financing and funding structures

It raised $12.3 Mn from Sequoia Capital, Matrix and Accel Partners in the last 15 months

New Delhi-based student housing startup Stanza Living has raised $4.4 Mn in venture debt from Alteria Capital.

The company plans to use the funds to bolster its momentum to unlock an inventory of one lakh beds by 2021 and bring its high-quality Stanza Living brand experience to students across India.

Further, Anindya Dutta, managing director and cofounder, Stanza Living, said that through this strategic partnership with Alteria, the company will also be working on developing interesting financing and funding structures relevant to its business.

Ajay Hattangdi, managing partner, Alteria Capital said, “Anindya and Sandeep have exciting growth plans for the company and it is our pleasure to support Stanza through our debt funding solutions along with access to our network and partnerships.”

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 full-stack business model, which it claims enables it to design spaces and tailor its services to cater to their specific needs and desires.

This comes after it raised $12.3 Mn from marquee global investors such as Sequoia Capital, Matrix and Accel Partners in the last 15 months. In September 2018, Inc42 had reported that Stanza Living raised $10 Mn (INR 73 Cr) in a funding round led by Sequoia Capital with participation from existing investors — investment firms Matrix Partners and the California-headquartered Accel Partners.

Using the Stanza Living platform, students can find accommodation for prices ranging from $108.7 (INR 7,000) to $388.2 (INR 25,000) per month.

The student accommodation platform claims to have grown exponentially— has scaled the business 7x since last year, unlocking an inventory of 15,000 beds across Delhi NCR, Bengaluru, Pune, Hyderabad, Chennai, Indore, Vadodra and Dehradun in 2019.

A recent report by JLL (Jones Lang LaSalle Inc) stated that the supply in the student housing market currently stands at 6 Mn beds and that there’s a massive shortage of 5 Mn beds. This is the market that Stanza Living is targeting.

Earlier today (March 26), Singapore-headquartered student housing platform Oxfordcaps announced $8 Mn fundraise led by Times Internet with participation from existing investors Kalaari Capital and Silicon Valley-based 500 Startups.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Stanza Living Raises $4.4 Mn In Venture Debt From Alteria-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Stanza Living Raises $4.4 Mn In Venture Debt From Alteria-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Stanza Living Raises $4.4 Mn In Venture Debt From Alteria-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Stanza Living Raises $4.4 Mn In Venture Debt From Alteria-Inc42 Media
Stanza Living Raises $4.4 Mn In Venture Debt From Alteria-Inc42 Media
You’re in Good company