StayVista, a luxury villa and homestay rental startup, has raised Rs 40 crore (roughly $4.6 million) in a Series B funding round led by JSW Ventures. Current investors DSG Consumer Partners and Capri Global Family Office have also contributed.
DSG Consumer Partners and other investors had previously contributed $7.81 million to the Mumbai-based company.
The money will be used to strengthen the team, increase supply-side services, and enter new markets, according to a press release.
Ankita Sheth, Amit Damani, and Pranav Maheshwari founded StayVista in 2015 to link vacation rental properties with tourists looking for villas, bungalows, cottages, and homestays. Among the platforms with which the company collaborates are Homes & Villas by Marriott Bonvoy, Booking.com, MakeMyTrip, and Airbnb.
Both B2C and B2B business models are used by StayVista. It offers luxury properties for rent to internet users under its B2C offerings, and its B2B vertical charges property owners for maintenance services in addition to listing fees.
From Rs 11.39 crore in FY23 to Rs 14.03 crore in FY24, the company’s standalone operating revenue increased by 23.17%. Additionally, it decreased its net loss from Rs 1.17 crore to Rs 82.81 lakh, a 29.22% decrease from the prior year.
With more than 1,000 properties spread across more than 85 destinations, StayVista claims to have hosted more than 1 million visitors. Players like Edge Retreats, Le Collectionist, and Elivaas are its rivals.
