story-banner

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

author-image

Nikhil Patwardhan

37 reads
author-image

Nikhil Patwardhan

37 reads

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.

June 10, 2024

10 MINS READ

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.

For subscribers only

Premium Reads

>>

View More >>

Deeply reported and objective news on the country´s fastest-growing companies and the people behind them.