Zolostays, a managed hostels, paying guest accommodation and apartments brand that targets the housing needs of students and early professionals, has raised $7 million from Trifecta Capital.
The company last raised $30 million from Nexus Venture Partners, IDFC Alternatives and Mirae Asset in January.
“We will utilize these funds to further our investments in capital expenditure, product innovation and expand to newer cities in the new year aggressively.”
— Nikhil Sikri, CEO and Co-Founder of Zolostays
The firm competes with Oyo’s Life brand, StanzaLiving, and Nestaway-owned Hello World. Last month, Zolostays appointed Sidhartha Mehra from Jupiter Capital as chief financial officer.
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