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Amber on track to drive $1 billion in gross booking value in 2023

Founded in 2016 with headquarters in Pune, India, student-housing platform, AmberStudent ends the year with a $600 million in gross booking value with 40% net margin.

Photo: iStock

Saurabh and Madhur launched Amber in 2016 to address a growing need in the student rental market

Eyeing 100,000 bookings with a gross value of $1 billion by 2023, the company is looking to solidify their presence in the global real estate market.

“We have seen unprecedented growth in student demands for accommodation in the last couple of years, especially in countries like the US, UK, Australia and Ireland, as international borders opened up after the Covid-19 pandemic,” said Amber’s founder and CEO, Saurabh Goel.

Recording $13 million in gross booking value in 2019, Amber grew 27x in three years, owing to a comprehensive product suite and a persistent team driven to fulfil Amber’s mission: helping every student find comfortable housing wherever they go.

“The strategy for this explosive growth has been simple – building a team with a vision for growth and delivering relentlessly,” said Madhur Gujar, co-founder and chief business officer.

“At the onset, we were just 30 people running all the operations for the business. But over the years, we onboarded the smartest minds and are now a growing family of 400.”

“At the onset, we were just 30 people running all the operations for the business”

Graduates from the Indian Institute of Technology, former batchmates and now co-founders, Saurabh and Madhur launched Amber in 2016 to address a growing need in the student rental market. Born out of Google forms and Facebook groups, Amber quickly grew as one of the world’s largest leading student accommodation platforms.

The company has witnessed significant growth over the years, and have helped more than 1 million students find comfortable housing. “In the last couple of years we have identified key gaps in students’ education journeys, and are now expanding to cater to their every need,” added Madhur Gujar.

Amber anticipates a multi-dimensional growth in the upcoming year, expanding into new territories with an all-rounded product suite that encompasses every aspect of a student’s education journey.

About the author:  Amber Student is a leading global student housing platform, providing affordable housing options to students in more than 100 cities across the UK, US, Australia, and Ireland, with more than 1 million beds on the platform.

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