Dtwelve Spaces Private Limited which is also known by a common brand name- Stanza Living has reportedly raised INR 44 crore from a venture debt company, Alteria Capital.
Stanza Living is an accommodation management firm that manages shared living spaces for young professionals and students. The company was founded back in 2017 by Sandeep Dalmia and Anindya Dutta.
The company is headquartered in Delhi and has raised funds in a mixture of Preference and debt shares from Alteria Capital’s India Fund-I.
According to the Ministry of Corporate Affairs (MCA) filings, the co-living start-up has raised funds in issuance of 86 Cumulative Compulsorily Convertible Preference Shares (CCPS) under Series C3 category and 4000 NCDs (Non-Convertible Debentures) which were issued at a price of INR 100 per CCP Shares and INR 1 lakh per NCD. Stanza Living has also raised Rs. 40 crore in debt shares and issued premium for CCPS at INR 4,66,334 per share.
However, the business model of Dtwelve Spaces Pvt. Ltd. is quite impressive and justifies it being able to raise such capital amounts. It is a technology-based housing concept which provides a number of amenities such as housekeeping, laundry, security, meals, internet connectivity, community engagement programs etc. to students and young professionals.
The company signs long-term lease contracts with property owners who convert their idol assets to shared living accommodations according to company policies.
In the past five funding rounds, Stanza Living has raised a total sum of USD 70.2 million. Earlier this month, in November, the company raised USD 9.3 million from US-based GHI India by issuing equity shares and Series C Cumulative Compulsorily Convertible Preference Shares (CCPS).
Talking about another recent acquisition, the shared-living management company acquired accommodation provider company, YourShell for an undisclosed sum, earlier in the month of October.
The start-up claims to have more than 50,000 beds in over 150-200 housing accommodations, also mentioned in an interview to be the largest shared-living company in India with presence in over 14 cities across the nation. Not just this, the best feature of Stanza Living accommodations is that students can get rooms with all facilities starting from a price point of just Rs. 3,500 which goes all the way up to Rs. 25,000.
Furthermore, Stanza living claims to disrupt the multi-billion dollar student housing and shared-living concept in India by instituting the new-age migrant consumer lifestyle at the heart of its product design, services, development and execution formats.