Hotline: 1800 102 2007
Hotline: 1800 102 2007
Aug, 22 2019

Co-living startup Zolostays in advanced talks to raise up to $100 mn to expand its business

Zolostays is planning to launch fully-managed houses targeted at families and individual groups in the next three to four quarters.

Co-living startup Zolostays in advanced talks to raise up to $100 mn to expand its business

Zolostays Property Solutions Pvt Ltd, a co-living startup, is in advanced discussions with new investors to raise up to $100 million for its Series C round through a mix of equity and debt options.

Dr Nikhil Sikri, Chief Executive of Zolostays, said, “We are looking to close a $100 million round, which will be used to fund the expansion of our workforce team as we have launched in new cities this year, and to help increase inventory size and upscale furnishing options across our current inventory as well.”

In January, the Nexus Venture Partners-backed company had raised $30 million in its Series B round from investors including IDFC Alternatives, Mirae Asset, and Nexus Venture Partners.

At present, Zolostays is offering both shared and private rooms for rent on its platform. The startup works with both property developers and owners on a revenue-sharing model and leased model.

Besides a fully managed room, Zolostays also offers amenities such as WiFi, housekeeping, repairs & maintenance, food service, and DTH connections at its properties and included in the monthly rent.

“We have two formats of housing options on our platform; one is the Zolo Select option which offers high-end luxury apartments on shared rentals as well as Zolo standard which is basically 4-5-floor tower, along with a community lounge. Around 30% of our new closures come in through referrals from current property owners, rest 70% is outbound closures,” Sikri added.

Zolostays is planning to launch fully-managed houses targeted at families and individual groups in the next three to four quarters.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Quick Service Restaurants
    Foodies with mission to provide the society with highest quality..
    Locations looking for expansion Haryana
    Establishment year 2017
    Franchising Launch Date 2020
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
  • Bakery & Confectionary
      Investment Brand Fee Space Staff Expected Monthly sales Pro..
    Locations looking for expansion TELANGANA
    Establishment year 2019
    Franchising Launch Date 2020
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater HYDERABAD TELANGANA
  • Cosmetics & Beauty Product Stores
    NewU Stores are lifestyle retail stores under the Company name..
    Locations looking for expansion Haryana
    Establishment year 2010
    Franchising Launch Date 2020
    Investment size Rs. 20lac - 30lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Fine Dine Restaurants
    About Us: Bikkgane Biryani has made it our goal to serve..
    Locations looking for expansion Haryana
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 30lac - 50lac
    Space required 600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities