Staycay Abode Solutions Pvt Ltd

Founded in 2019 in Ghaziabad, India, Staycay Abode Solutions Pvt Ltd specializes in offering hostel facilities. The company's operations have remained consistent without significant pivots. Staycay Abode Solutions Pvt Ltd operates HooLiv, providing affordable hostel accommodations tailored for students and young professionals, fostering community living with essential amenities across India. The founders include Abhishek Verma, Chinmoy Mishra, Gaurav V, and Rasmi Mishra, with Chinmoy Mishra currently serving as CEO.

In March 2022, the firm raised INR 25. 000 mn in growth capital from Kolte-Patil Family Office, bringing the total amount raised to INR 25. 000 mn and valuing the company at INR 58. 823 mn.

HooLiv provides a range of affordable hostels and shared accommodations, featuring designed rooms and communal amenities that foster community among residents. The core offerings cater to students and young professionals seeking budget-friendly living arrangements. Each location includes essential services such as high-speed internet, gym facilities, and on-site medical assistance, strategically situated near educational institutions and urban centers in cities like Noida, Pune, Jaipur, Jammu, and Sikar. The target clientele consists of students and young professionals who benefit from the communal atmosphere and comprehensive amenities.

In the fiscal year 2023, HooLiv reported a revenue of INR 2,021,536. 90 and an EBITDA of INR -418,991, reflecting the company's financial performance during this period. Revenue is generated primarily through direct-to-consumer rental transactions, with additional revenue from in-app purchases via the My HooLiv App, which streamlines various aspects of residents' stays. Following the most recent funding round in March 2022, Staycay Abode Solutions Pvt Ltd plans to utilize the capital to enhance its product offerings and expand its market presence.

The company is focusing on launching new hostel facilities in additional Indian cities and aims to establish a stronger foothold in urban areas by the end of 2023. This strategy aligns with their goal of catering to the growing demand for affordable shared accommodations among students and young professionals.