Abroad student accommodation start-up University Living, backed by LetsVenture and Indian Angel Network and is expecting to hit the IPO market by the year 2030.
The IAN backed abroad student accommodation start-up has recently acquired a 51 per cent stake in UK based start-up StudentTenant
Abroad student accommodation start-up University Living, backed by LetsVenture and Indian Angel Network and is expecting to hit the IPO market by the year 2030.
In an exclusive interaction with Outlook Business, the company’s founder and chief executive officer Saurabh Arora shared that the company is profitable and clocked Rs 55 crores revenue in the last fiscal year, and is on Rs 100 crore ARR in the current fiscal year, and now the company’s vision for the current decade is getting listed in India and expanding to major portions of the globe.
Currently, the company is dominantly present in the US, UK, Ireland, Australia, Europe, and Canada and is aiming to reach the regions of New Zealand and Japan this year. Arora added that the company also assists students in finding accommodations options even in the countries where it is not listed, with its network partners.
The company has also recently acquired a majority, 51 per cent shares, in UK-based start-up StudentTenant, strengthening its footprints in the international market.
The company claims to have served over 2 million students over 2 million beds in the past 9 years since its inception in 2015. The company closed its GBV sales at $200 million in FY2023-24 and is expecting to make $350 million GBV of sales this fiscal year.
The global student housing market was estimated to be worth $11 billion in 2021, according to a report by Business Research Insights. The market is expected to grow to $18.7 billion by 2032, at a compound annual growth rate (CAGR) of 4.95 per cent.
Leading international players in the organised student housing business include Amber Student, UniAcco, Your Space, Good Host Spaces, Homeversity etc.