HDFC Capital-backed co-living operator Housr is in advanced discussions to raise $20–40 million, according to co-founder and CEO Deepak Anand. “We are engaging with two large funds, and the deal should close in the next 2-3 months,” Anand said, without disclosing the names of the investors.
The Gurugram-based company currently operates 70 properties and claims to have closed FY24 with an annual revenue run rate (ARR) of Rs 120 crore. Housr plans to expand its portfolio to 100 properties by early 2025 and is targeting a revenue of Rs 240 crore by FY26. Anand added that the company is on track to achieve profitability within the next two to three months.
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The fresh funds will support Housr’s plans to deepen its presence in core markets such as Gurugram, Bengaluru, and Hyderabad, while facilitating its entry into Mumbai and Chennai.
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Housr has positioned itself as a premium brand in the co-living space, focusing on higher margins and targeting an upscale customer base. Around 70% of its monthly business is generated through individual office-goers, with 10% coming from customer referrals and another 10% from corporate tie-ups, including partnerships with airlines. These corporate tie-ups are becoming a steady source of revenue with higher margin potential for the company, according to Anand. The company leases entire properties to corporates for their senior staff, such as pilots and captains, who previously stayed in budget five-star hotels, he added.
Housr has raised $13.7 million in total equity funding since its inception in 2018, according to Tracxn data. Its most recent funding round occurred in May, when it secured $3 million from HDFC Capital. Other notable investors include Rising Sun Holdings, Incubate Fund India, and LetsVenture.
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