Co-living startup Zolo raises venture debt from Trifecta
Summary
Mumbai headquartered co-living space provider Zolo has raised $7 million in venture debt from Trifecta Capital. “We will utilize these funds to further our investments in capex, product innovation and expand to newer cities in the new year aggressively,” said Nikhil Sikri, CEO of Zolo Stays Property Solutions, in a statement. At the same time, they have maintained a strong focus on unit economics and are likely to achieve profitability in the next 18 months,” said Nilesh Kothari, managing partner at Trifecta in the statement. Among early-stage deals, Hyderabad based hostel, PG and co-living company PGO raised $2 million in November. Bengaluru based Grexter Living which raised $1.5 million from Venture Catalyst in January acquired budget accommodation service provider i2Stay.