Exclusive: Stanza Living secures debt from Alteria and Innoven Capital

Managed accommodation provider Stanza Living secured Rs 60 crore or $7 million in debt funding from Alteria Capital and Innoven Capital.

Previously, Stanza Living raised Rs 110 crore ($13 million) in a bridge round led  by Alpha Wave, as exclusively reported by Entrackr.

The Stanza Living’s board issued 6,000 non-convertible debentures at a face value of Rs 1,00,000 each to raise the above-mentioned amount, its regulatory filing accessed from the Registrar of Companies (RoC) shows.

Alteria Capital invested Rs 35 crore ($4.1 million) while Innoven Capital contributed with Rs 25 crore ($2.9 million) in the round.

Founded in 2017, Stanza Living is a managed accommodation startup that offers hassle-free living for students and young professionals moving to new cities. The company claims to have over 75,000 beds across 24 cities in India.

The Delhi-based startup has raised over $240 million to date across multiple debt and equity rounds from investors such as Alpha Wave, Peak XV Partners, Accel, and Z47, according to startup data intelligence platform TheKredible.

The Accel-backed company is yet to file its financials for FY24 and FY25. In FY23, its revenue rose to Rs 442 crore from Rs 115 crore in FY22, while losses widened 18.71% to Rs 495 crore during the same period.

Stanza Living competes with Your-Space, which recently raised Rs 70 crore in debt, and Truliv, which entered into a strategic equity partnership with Bennett, Coleman and Company Limited (BCCL). Other competitors include Colive, Settl, Union Living, and Coho.