Your-Space, a student housing startup, has secured Rs 70 crore (approximately $8.2 million) in debt financing, led by existing investor Shantanu Rastogi, Managing Director of General Atlantic. Other investors, including Castle Investments and Ajax Capital, also participated in the round.
Regulatory filings reveal that Your-Space’s board approved a special resolution to issue 10,14,493 compulsory convertible debentures (CCDs) at Rs 690 each to raise funds. Rastogi contributed Rs 25 crore, while new investor Ashish Kacholia invested Rs 10 crore. Additional funding came from Satyadharma Investments and Castle Investments (Rs 7.5 crore each), with Ajax Capital and Holy Basil Consultancy investing Rs 5 crore each.
The startup has already received Rs 51 crore, with the remaining funds expected soon. The capital will be utilized for working capital, creditor payments, and business operations. The conversion of debentures into equity will be based on a valuation of Rs 185 crore.
Your-Space provides affordable student accommodations across 60+ properties with tech-enabled security features. The company has raised $17.6 million to date and recorded a 20% year-on-year revenue growth to Rs 142.7 crore in FY24, despite posting a loss of Rs 30.7 crore.
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