Funding winter

Stanza Living’s existential crisis: Senior-level exits, poor cash flows, no fresh funding

Nikhil Patwardhan

June 10, 2024 | 10 Min Read

Stanza Living's repeated efforts to secure external funding over the past year have failed, forcing the co-living space provider to seek an internal bridge round. The situation has worsened for the company, which is now contending with several senior-level departures and dwindling cash flows.

Key Takeaways

While Stanza Living received commitments of about $25 million in a bridge round from its existing investors
It only received half of the amount, however, as investors tread cautiously amidst top-level attrition at the company
In the last five months, at least five senior-level executives, including Stanza’s CTO, have quit the company
The company now faces dwindling cash flow and low employee morale as it attempts to orchestrate a turnaround

In January, Sudipta Banerjee, chief technology officer (CTO) of Stanza Living, quit the company to start something of his own. A former Airtel Digital executive, Banerjee had served as CTO of the Gurugram-headquartered co-living startup for two and a half years.

His departure couldn’t have come at a worse time for the Gurugram-based startup, which offers shared living accommodations for working professionals and students. The company was knee-deep in negotiations for a bridge round from its existing backers, having failed to raise external financing.

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