Stanza Living in talks to raise up to $50 million
27 March 2019 8:07 PM GMT
Stanza Living's existing investors, Sequoia Capital, Accel and Matrix Partners, will participate in the funding round.Stanza Living offers fully-furnished homes for college students with housekeeping, internet and added services
- Student housing rental startup Stanza Living is in talks to raise up to $50 million in a fresh round on the back of significant inbound interest, said two people aware of the matter, requesting anonymity.
- Its existing investors, Sequoia Capital, Accel Partners and Matrix Partners, will participate in the round, said one of the two people mentioned above.
- For the current fiscal year, Stanza, run by DTwelve Spaces Pvt. Ltd, will report revenues of ₹ 20 crore, which it plans to grow to ₹ 150 crore by the end of the next fiscal year, said the second person, aware of the startup's plans.
- Cities such as Pune, Bengaluru, Hyderabad and Chennai, as well as the National Capital Region, are well-positioned to tap into the co-living market, according to a report from Knight Frank.