Stanza Living raises Rs 30 cr from Alteria Capital

Student accommodation service provider Stanza Living Tuesday said it has raised USD 4.4 million (Rs 30 crore) from Alteria Capital in the third round of funding for its expansion plan. With this fresh round, the company, which was founded in 2017, has raised a total of Rs 115 crore.
Stanza Living said Rs 30 crore has been raised as debt from Alteria Capital, India's largest venture debt fund.

"This is in addition to USD 12.3 million (Rs 85 crore) funding raised by the company earlier from marquee global investors like Sequoia Capital, Matrix and Accel Partners," Stanza said in a statement. Stanza Living is on an aggressive growth path and has scaled the business seven times since last year, unlocking an inventory of 15,000 beds across Delhi NCR, Bengaluru, Pune, Hyderabad, Chennai, Indore, Vadodra and Dehradun in 2019.

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Stanza Living Managing Director and co-founder Anindya Dutta said, "The funding will bolster our momentum to unlock an inventory of one lakh beds by 2021 and bring our high-quality Stanza Living brand experience to students across India."

The student housing segment in India is largely unorganised, suffering from several infrastructure and service quality gaps, Dutta said.