Delhi-based student housing startup Stanza Living on Tuesday (December 10) announced that it has secured $5.7 Mn debt financing from Alteria Capital.
Prior to this, Alteria has invested $4.3 Mn debt into Stanza Living. Beyond this, Stanza Living has raised $70 Mn funding from investors such as Falcon Edge Capital, Sequoia Capital, Accel, Matrix Partners, with an undisclosed round of Series C funding earlier in July 2019. At the time, the company was reported to be valued at $300 Mn.
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. The company offers student accommodation for prices ranging from $97.4 (INR 7K) to $348.2 (INR 25K) per month.
The company claims to have unlocked an inventory of more than 47,500 beds in less than 3 years across key hubs like Delhi NCR, Bengaluru, Pune, Hyderabad, Chennai, Coimbatore, Indore, Vadodara and Dehradun.
Anindya Dutta, managing director and cofounder, 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.”
Sandeep Dalmia, MD and cofounder, Stanza Living said that the company has scaled its high-quality living experience by over 400x in just 2.5 years of operations and will continue deepening access to consumers across the country.
“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 Ajay Hattangdi, managing partner, Alteria Capital.
According to a report, investments in the student housing segment had reached $100 Mn in 2018 and is a $50 Bn opportunity for domestic and international investors.
Current demand for student accommodation across India totals more than 8 Mn bed spaces and is expected to grow at a rate of around 8% each year to reach 13 Mn beds by 2025 according to the Global Student Property 2019 Report by Knight Frank.