Amber, a student accommodation booking platform that helps students find and book long-term residential accommodation across developed markets, raised $21 Mn from Gaja Capital. Lighthouse Canton and Stride also participated in the round.
The Rainmaker Group acted as the exclusive financial advisor on this transaction.
The funds raised will be utilized for expansion into newer international markets and to enhance the company’s offerings for property managers and students.
Saurabh Goel, Co-Founder and CEO of Amber said, “Right from when we started working with The Rainmaker Group, they came with their A-Game - not only did they bring in-depth, preparedness, agility, and perseverance, but also added a lot of fun to the process, ensuring we have the best outcome. Their quality of work added credibility, and their tight and aggressive approach resulted in quick turnarounds. Working with them felt like having another founder on board – be it brainstorming on positioning, structuring, narrowing down on offers, choosing the right partners, or planning the way forward. For our first institutional raise, we felt better equipped to face the unknowns because they sensitized us at each stage. With their undivided attention and persistence throughout the process, we felt we were in safe hands for a genuine outcome.”
Chirag Singhal, Vice President at The Rainmaker Group said, “Generally, consumer internet companies are massively profitable only when the flywheel is matured, and the economies of scale start to kick in. Amber, however, has defied this, being the global leader in its category. Achieving scale despite being practically bootstrapped requires the ability to identify a one of its kind of market opportunity and an exceptional mindset which is evident with Saurabh, Madhur (co-founders), and the team.”
About Amber:
Amber is a long-term accommodation platform that helps students in 50+ countries book accommodation across the developed world. More than 1 million students visit Amber’s platform monthly on its website and mobile apps. In addition to its student-centric offerings, the company has developed an AI-based dynamic pricing engine and dashboard tools to streamline operations for property managers. The company is headquartered in Pune, India, and has a presence in the UK, US, Australia, Ireland, Germany, Canada, Spain, and China.
About The Rainmaker Group
The Rainmaker Group is the investment banking partner of choice for India’s private businesses as they traverse their fundraising journey - from their first growth round to pre-IPO. The firm has delivered growth equity and secondary transaction milestones for over a dozen unicorns, soonicorns, and now-listed businesses.
The firm’s ‘rainmakers’ pride themselves on a founder-like mindset and a proprietary execution process that has delivered industry-leading closure rate and client retention. The Rainmaker Group’s relationship with global investors is underpinned by thoughtful client selection and an insight-driven approach to dealmaking.
To know more about The Rainmaker Group, get in touch with Dhwani Mehta
Dhwani Mehta - dhwani.mehta@trmg.in
