[Funding alert] Stanza Living raises $5.7 million from Alteria Capital
Shared housing startup Stanza Living has raised $5.7 million in debt financing from Alteria Capital. This investment is in addition to the $4.4 million raised from Alteria Capital in March this year. With this investment, the total debt infusion by Alteria Capital in Stanza Living amounts to $10 million.
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.”
To date, Stanza Living today has raised total funding of $70 million from marquee global investors like Falcon Edge Capital, Sequoia Capital, Accel, Matrix Partners, and Alteria Capital.
Sandeep Dalmia, Managing Director and Co-founder, Stanza Living, said, “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.”
Launched in 2017 by Sandeep and Anindya, Stanza Living claims to have unlocked an inventory of more than 47,500 beds in less than three years across key hubs like Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai, Coimbatore, Indore, Vadodra, and Dehradun.
Speaking on the investment, Ajay Hattangdi, Managing Partner at Alteria Capital, said,
“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.”
A tech-enabled co-living concept, Stanza Living's business is in line with evolved hospitality sectors like hotels and serviced apartments. From smart-space planning in residences and gamifying delivery of food for operational effectiveness, to exclusive community engagement programmes and delivering reliable and standardised services through technology integration, Stanza Living operates with a full-stack business model.
(Edited by Athirupa Geetha Manichandar)