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Stanza Living raises Rs 40-cr from Alteria Capital

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Co-living operator Stanza Living has raised USD 5.7 million (around Rs 40 crore) from venture debt fund Alteria Capital to fund its expansion plan and future growth.

Alteria Capital had earlier invested USD 4.3 million (Rs 30 crore) in Stanza Living, taking the total debt infusion to USD 10 million (Rs 70 crore).

Founded in 2017, Stanza Living has so far raised USD 70 million from investors like Falcon Edge Capital, Sequoia Capital, Accel, Matrix Partners, and Alteria Capital.

“The capital infusion will enable us to further increase the pace of our strategic growth across markets through organic and inorganic measures,” said Anindya Dutta, Managing Director and Co-Founder, Stanza Living.

Stanza Living has an inventory of more than 47,500 beds across cities like Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai, Coimbatore, Indore, Vadodra and Dehradun.

Sandeep Dalmia, MD, and co-founder said the company has scaled up its business significantly in the last few years and would continue deepening access to consumers across the country.

“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.

Co-working and co-living segments have gained momentum in India on rising demand for shared office as well as accommodation space.

In its study, News Corp and Softbank-backed realty portal PropTiger has termed the co-living space as “real estate goldmine” and said that this segment has the potential to become USD 93 billion markets annually on rising demand from students and professionals.

ALSO READ: Stanza Living Spreads Its Wings To Seven New Cities

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