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Aham Housing Finance raises Rs 10 crore from Negen Capital

IndianStartupNewsIndianStartupNews · 1y ago
Aham Housing Finance raises Rs 10 crore from Negen Capital
Medial

Chennai-based housing finance company, Aham Housing Finance, has raised Rs 30 crore in funding from Negen Capital. Aham Housing Finance provides home loans in the range of Rs 10 to 15 lakh, primarily targeting self-constructed homes in the outskirts of metro cities and tier II and III cities. The company differentiates itself by using proprietary underwriting tools to onboard customers with limited credit history but predictable financial behavior. The fintech and housing finance sectors in India have seen a surge in loan services, with the Indian home mortgage finance market expected to grow at a CAGR of 7%. The COVID-19 pandemic had a significant impact on the housing finance sector, but measures such as reduced interest rates by the RBI have aimed to make home loans more affordable.

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Student housing startup Your-Space raises $8.2 Mn debt

EntrackrEntrackr · 3m ago
Student housing startup Your-Space raises $8.2 Mn debt
Medial

Exclusive: Student housing startup Your-Space raises $8.2 Mn debt Student housing startup Your-Space has raised Rs 70 crore (approximately $8.2 million) in debt led by existing investor Shantanu Rastogi, Managing Director of General Atlantic. The round also includes participation from other existing investors, including Castle Investments and Ajax Capital. The board at Your-Space has passed a special resolution to issue 10,14,493 compulsory convertible debentures (CCDs) at an issue price of Rs 690 each to raise Rs 70 crore, according to its January regulatory filing accessed from the RoC. Shantanu Rastogi led the round with an investment of Rs 25 crore, followed by new investor Ashish Kacholia, who will contribute Rs 10 crore. Other notable investments include Rs 7.5 crore each from Satyadharma Investments and Castle Investments, while Ajay Gupta’s family office, Ajax Capital, and Holy Basil Consultancy will invest Rs 5 crore each. The company has already received approximately Rs 51 crore out of Rs 70 crore while the rest of the amount will follow soon. The fresh proceeds will be used for working capital requirements, creditor payments, and other general business operations, the filings added. Notably, the conversion of debentures into equity shares will be done at the valuation of Rs 185 crore against the above-mentioned sum at a later date, the filings further added. Your-Space is a student housing company offering affordable PGs, hostels, and co-living spaces for both girls and boys. With over 60 smart spaces, the company integrates tech-enabled safety features, including facial recognition, biometrics, and digital locks. According to startup data intelligence platform TheKredible, the company has raised around $17.6 million in funding including both debt and equity including a $10 million Series A round raised in January 2022 led by Shantanu Rastogi. The Delhi-based company reported over 20% year-on-year growth in operating revenue to Rs 142.7 crore in FY24, compared to Rs 117.2 crore in FY23. The Delhi-based company also posted a loss of Rs 30.7 crore during the same period.

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