An India-based tech-enabled managed accommodation company Stanza Living announced that it has secured $57 million in debt financing, led by Kotak Mahindra Bank and RBL Bank, with its existing debt provider Alteria Capital also participating.
The funding will be utilized for Stanza Living’s current and future projects and hasten the startup's next phase of multi-city expansion. This debt infusion comes on the back of the $100 million equity funding raised by Stanza Living mid last year. Stanza Living has raised close to $220 million in debt and equity combined to date.
With an inventory of more than 75,000 beds, Stanza Living is the managed accommodation provider for students and working professionals migrating to 23 cities across the country.