Zolostays secures $7M led by Trifecta Capital

Zolostays operates over 400 properties across 10 cities in India, including Bengaluru, Chennai, Kota, Pune, Gurugram and Hyderabad, offering 45,000 beds to travelers.

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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