The intelligent software was launched in 2016. In the past six years, University Living has expanded its reach and catered to 265 plus popular global study-abroad destinations across Australia, Canada, Europe and the United States.
Besides accommodation, University Living covers other aspects of living abroad such as local guarantor support, forex solutions, room essentials, concierge service. It also helps students with their overseas bank account. The start-up enables students access forex support and education loans.
Saurabh Arora, Founder and CEO at University Living, said, ” From the time it was launched in 2016, University Living has booked over seven million nights, interacted with over six million students and even managed to stay profitable right from day one. As more students venture out to study abroad, the student accommodation sector continues to expand rapidly as there is dearth towards the fag end of the booking season. We plan to address all these concerns and more to give students a holistic experience in their home away from home,” he added.
The top preferred destination among students continue to be U.K. followed by the U.S., Canada, Australia and Europe.
The Red Seer report indicates that the student housing market has tripled in the last 10 years and is expected to double from its current size by 2025.
In fact, according to data shared by AECC global, 91% of Indian students preferred to study abroad in 2021.
Recent trends show that students are looking for study destinations with an all-inclusive package.
Sachin Tagra, Partner, JSW Ventures, has been personally vested in University Living’s growth story. He recalls, “The journey hasn’t been easy for UL, but even in the face of adversity and grave challenges, the team led by Saurabh and Mayank have fought bravely. It is incredible to see how they have managed to scale the business from scratch and bring it to 300 million GMV!”