StayVista, a luxury villa rental brand, on Wednesday said it has raised over Rs 40 crore from investors including DSG Consumer Partners with participation from Capri Global and CA Holdings.

It manages and markets a portfolio of over 500 villas across more than 50 luxury destinations.

The investment will help the company to expand its footprint across the country and fortify itself into an enduring hospitality brand synonymous with luxury villa getaways, the company said in a statement.

Ankita Sheth, Co-Founder, StayVista, said, "We have doubled our revenues during the pandemic due to high repeat and referrals from our 3,00,000-plus guests. This raise allows us to double down on our growth plans."

"We will use the capital for growth, building our team, strengthening our brand, and developing our tech infrastructure. As category creators and leaders, we see ourselves becoming the 'home away from home' for Indians by entering geographies that our users frequently visit," she added.

Hari Premkumar, Head of India, DSG Consumer Partners, said, vacation rentals are one of the fastest growing segments in hospitality, where multiple brands have scaled massively across geographies.

"In India as well, we expect the segment to expand further and StayVista is well poised to make the most of this opportunity and build a category-defining brand in villa rentals," he said.

Jinisha Sharma, Capri Global, said, StayVista has been able to successfully solve all the traditional issues faced by the luxury villa rental industry such as low yield, lack of transparency, lack of trust, and branding.

StayVista helps villa owners manage their properties and offer villas to vacationers.