Stanza Living raises $57 Mn in debt

Managed accommodation provider Stanza Living has raised $57 million (Rs 425 crore) in a debt round led by Kotak Mahindra Bank and RBL Bank. Its existing debt provider Alteria Capital also joined the round.

The proceeds 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 $100 million equity funding raised by Stanza Living mid last year.

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.

Led by Sandeep Dalmia and Anindya Dutta, Stanza Living is a managed accommodation company that provides hassle-free living experiences to students and young professionals moving to a new city.

The firm claims to have an inventory of more than 75,000 beds and serves in 23 cities across the country.

The Delhi-based company is backed by global investors such as Alpha Wave Incubation, Equity International, Falcon Edge Capital, Sequoia India, Matrix and Accel Partners.