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


Nikhil Patwardhan

37 reads

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


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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