The money will be utilised to fund capital expenditure for Stanza Living’s current and future projects and accelerate the company’s next phase of multi-city expansion. This debt infusion comes on the back of the solid $100 million equity funding raised by Stanza Living mid last year.
“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,” said Anindya Dutta, MD and Co-founder, Stanza Living.
With an inventory of more than 75,000 beds, Stanza Living is the managed accommodation provider of choice for students and working professionals migrating to 23 cities across the country.
Till date, Stanza Living has raised close to $220 million in debt and equity combined. Recently, Stanza Living also launched a new business vertical in the form of campus facility management on the back of strong inbound interest from large academic institutions and corporate houses, as well.
The managed accommodation sector in India has witnessed a multi-fold increase in demand for reliable, high-quality and safe accommodation options, especially in the wake of the pandemic. With the increasing adoption of hybrid work/study models and growth of adaptable operators like Stanza Living who are creating comprehensive solutions for diverse consumer segments, the sector continues to attract investor interest.
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The company is backed by global investors like Alpha Wave Incubation, Equity International, Falcon Edge Capital, Sequoia India, Matrix and Accel Partners.
