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Stanza Living raises Rs 40 crore from Alteria Capital

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

PTI|
Updated: Dec 11, 2019, 11.56 AM IST
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"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.
NEW DELHI: Co-living operator Stanza Living has raised $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 $4.3 million (Rs 30 crore) in Stanza Living, taking the total debt infusion to $10 million (Rs 70 crore).

Founded in 2017, Stanza Living has so far raised $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 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 potential to become $93 billion market annually on rising demand from students and professionals.

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