Housing provider Stanza Living raised $13 M Bridge funding from Alpha Wave
A bridge round led by Alpha Wave appears to have raised Rs 110 crore ($13 million) for managed housing provider Stanza Living. The Delhi-based startup has been waiting more than three years for this equity round.
According to Stanza Living’s regulatory filing, which can be accessed through the Registrar of Companies, the board approved a special resolution to issue 1,207 preference shares at a price of Rs 911440.17 each in order to raise Rs 110 crore.
While Matrix Partners, Accel India, and Peak XV invested a total of Rs 27 crore, Alpha Wave contributed Rs 83 crore.
Stanza Living was reportedly valued at approximately Rs 3,900 crore ($470 million). The valuation has increased slightly from Rs 3,525 crore ($424 million) in the previous equity round.
According to reports, the company was in discussions to raise $25 million in funding.
In March 2022, Kotak Mahindra Bank and RBL Bank led a debt round of $57 million, while in April 2021, Stanza Living raised $100 million in an equity round. It has raised more than $230 million in debt and equity rounds to date.
Co-living options are offered by managed housing platform Stanza Living to both students and working professionals.
The company says it is present in 24 cities and has an inventory of over 75,000 beds spread across more than 450 residences.
The operating income of Stanza Living increased from Rs 115 crore in FY22 to Rs 442 crore in FY23. According to the media, the company’s losses rose from Rs 417 crore in FY22 to Rs 495 crore in FY23, an increase of 18.71%. The company has not yet submitted its audited FY24 financial statements.
Colive, Your Space, Settl, Union Living, and Coho are rivals of Stanza Living. NestAway, a home rental startup backed by Tiger Global, was purchased by Aurum PropTech (formerly Majesco Ltd) last year for $11 million, a 90% valuation reduction.
