StayVista raises over Rs 40 Cr led by DSG Consumer Partners
StayVista intends to utilise the funds to further solidify its market leadership position in India’s luxury villa rental space. The fresh funds will be used for growth, building the team, strengthening the brand, and developing tech infrastructure.
Luxury villa rental brand, earlier Vista Rooms, has raised over Rs 40 crore in a round led by DSG Consumer Partners with participation from Capri Global and CA Holdings.
The said investment will aid the brand to expand its footprint across the country and fortify itself into an enduring hospitality brand synonymous with luxury villa getaways.
Founded in 2015, StayVista has a selection of 500+ luxury villas across 50+ destinations and a team of over 300 who are committed to making every stay inspiring, and in this endeavour have already delighted 3,00,000+ guests.
Speaking of the development, Ankita Sheth, Co-founder, StayVista, said, “We have doubled our revenue during the pandemic due to high repeat and referrals from our 300,000+ guests. This raise allows us to double down on our growth plans and accelerate building the most loved and trusted villa rental brand in India.
She added, “We will use the capital for growth, building our team, strengthening our brand, and developing our tech infrastructure. As category creators and leaders, we see ourselves becoming the ‘home away from home’ for Indians by entering geographies that our users frequently visit.”
Commenting on the investment, Hari Premkumar, Head of India, DSG Consumer Partners, said, “We are excited to deepen our partnership with StayVista. They have demonstrated extraordinary resilience in navigating the pandemic while driving record revenue growth in a capital-efficient manner. The founders are building business sustainably with certain markets already achieving healthy operating margins. The team’s execution capabilities and customer-centricity has led to them emerging as a market leader in villa rentals, by a distance."
"Vacation rentals are one of the fastest growing segments in hospitality, where multiple brands have scaled massively across geographies. In India as well, we expect the segment to expand further and StayVista is well poised to make the most of this opportunity and build a category-defining brand in villa rentals.”
"StayVista has been able to successfully solve all the traditional issues faced by the luxury villa rental industry such as low yield, lack of transparency, lack of trust, and branding; thereby offering a win-win solution for the homeowner as well as group travellers. A strong founding team with deep industry experience further puts the company in a solid position to capitalize on the strong growth potential that this sector offers,” added Jinisha Sharma of Capri Global.
Edited by Megha Reddy