New Delhi, Mar 5 (IANS): Student housing startup Ezstays has completed its seed round of funding raising $400,000 from Richard Rekhy, former CEO of KPMG India among other private investors.

A company statement said that keeping premium amenities at its core, Ezstays will allocate funds to further refine its customer experience.

Ezstays offers accommodation services and operates more than 1,200 beds in educational hubs such as Greater Noida, Ghaziabad, New Delhi and Bhopal.

The company expects to reach 5,000 beds by the start of the academic session of 2021-2022.

"Ezstays aims at curbing every type of ambiguity faced by students and their parents in terms of reallocation in tier 1 or 2 cities. Catering to the varied requirements of students, Ezstays is committed to making students feel at home," it said.

Vaibhav Khanna, Founder, Ezstays said: "This student housing company is tightly managed and operationally sound. We are thankful to Richard for placing his faith in us, and we are sure of achieving increased investor confidence which will enable us to reach new heights and gain more success."

Noting that student housing is a "good business" across the world especially in UK and European Countries, Richard Rekhy said that in India too, with the increasing trend in student's mobility across states to move to bigger cities for higher education, the demand for quality and safe student housing is rapidly growing.