Delhi-based start-up University Living said that it has raised an undisclosed amount under pre-series A funding led by Indian Angel Network and LetsVenture. With more students studying away from home than ever before, demand for accommodation near successful universities is increasing.
University Living is a global provider of student accommodation with 5,00,000 beds in 4,500+ verified properties across 110+ international cities in the UK, USA, Europe, Australia, Singapore, and UAE.
Started in January 2015 by two former roommates with twelve years of industry experience between them, University Living has grown to assist students from 120+ countries across 1000+ universities in three, stellar years, said the company.
In 2016, the startup was selected as one of the Ten Best Startups rewarded by IIIT-Delhi, won the BigB Plan organized by Espark-Viridian Accelerator in association with Headstart Network Foundation, and was officially recognized by Startup India.
Only 20% of all students around the world are able to secure campus accommodation while the rest are left to fend for themselves. This is especially difficult for international students who often arrive in their city of study with no idea of where to stay. University Living is aimed at helping such students find comfortable and budget-friendly accommodation around the globe. Each property listed on the website is personally verified by the team to ensure students have a safe and hassle-free living experience.
Saurabh Arora, CEO & Co-Founder, said, “The upsurge of the middle classes in many countries has increased demand for higher education overseas, as students and their families wish to determine global citizenship. All our services are aimed towards helping students transition smoothly into life abroad by connecting the dots to create an impact on the overseas education ecosystem. Our core competency is student accommodation and always will be. The new funding has been raised in light of our global expansion plans.”
Nitin Singhal, IAN’s Lead Investor said, “Saurabh and Mayank, with University Living, operate in the growing student accommodation market. This is another example of Indian entrepreneurs looking at the international market while leveraging their Indian base. They are a highly driven team and well placed to be a market leader.”
Ishan Singh, Lead Investor from LetsVenture said, “Saurabh & Mayank have a great team in place and they have built a profitable, technology-leveraged business that solves real issues. They have been working out of RevStart for over two years now and are a success story of the RevStart acceleration program. They have met and exceeded all their milestones to date. This funding will help them consolidate their position and expand rapidly.”
“University living is solving a real problem for the students going aboard and the founders are a great team.” said Bikky Khosla, Lead IAN investor & CEO of tradeindia.com.
University Living’s core competency is student accommodation with add-on services like room replacement, room essential packs, guarantor service, forex, education loan, travel insurance, and more to provide end-to-end solutions for an enhanced student living experience.