Amber, a global student housing solutions provider, has raised $21 million in its first external funding round as it aims to simplify the student housing process worldwide.
The raised capital will be used to expand its presence in the international market as well as enhance offerings for both property managers and students, as per the company's statement.
Who are the investors?
Gaja Capital led the round, with participation from Lighthouse Canton and Stride Ventures. Although the company did not disclose its valuation, an Entrackr report said that the round valued Amber at around $100 million.
Previously, The startup raised an undisclosed amount in angel funding from Ola’s Bhavish Aggarwal, Khatabook’s Ravish Naresh, and former FreeCharge co-founder Sandeep Tandon.
Offering seamless booking experience
Co-founded in 2017 by Saurabh Goel and Madhur Gujar, Amber offers a seamless booking experience complemented by verified listings, virtual tours, and expert assistance. The platform caters to students from more than 50 countries, facilitating their search for long-term rental properties with comprehensive user ratings, reviews, and pricing information.
Additionally, The startup provides value-added services such as loan facilitation, flight booking discounts, and guarantor services, partnering with study-abroad consultancies and loan providers to bolster student demand.
Serving students from more than 50 countries
It claims to provide students from more than 50 countries with a booking experience in over 250 cities worldwide, listing one million beds across seven countries, including the UK, the US, Australia, Ireland, Canada, Germany, and Spain.
Focused on expansion
Amber plans to grow its operations by enlisting more suppliers and property managers, scaling demand from international and domestic students, and investing in product development innovation.
According to Amber's co-founder and chief executive, Saurabh Goel, The company is focused on scaling its presnece in existing markets like the UK, Australia, and Ireland, and expansion into new markets such as the US, Canada, and Europe.
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