NEW DELHI: Managed accommodation provider Stanza living has acquired Delhi-based student accommodation provider YourShell at an undisclosed amount. People aware of the development said that the two companies have been in talks since late last year.
YourShell was established by Delhi University students and is among the youngest startups to raise venture debt under the Government of Indiaâs StandUp India program.
âWhen we learnt that Stanza Living was looking at strategic acquisitions for growth, we believed it was the ideal time to pass on the reigns to the experienced team,â said Shaifali Jain, Co-founder, YourShell.
The company with 18 properties, was operationally profitable across their portfolio. YourShell was launched in 2017 with 145 beds to provide homes to students within the North campus area of Delhi University.
âAs students ourselves, we had seen the primitive condition of student housing options in the city from close quarters. Over the last couple of years, we not only built a strong brand preference among the student community, but established a solid, hyper-growth business,â said Sunny Garg, Co-founder, YourShell.
Stanza Living is one of the largest managed accommodation company with an inventory of 55,000+ beds across 14 cities. The company is backed by global investors like Equity International, Falcon Edge Capital, Sequoia India, Matrix Partners, Accel Partners and Alteria Capital.