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Easy Home Finance raises $30 Mn in Series C led by Investcorp

EntrackrEntrackr · 7h ago
Easy Home Finance raises $30 Mn in Series C led by Investcorp
Medial

Mumbai-based home loan lender Easy Home Finance has raised $30 million in its Series C round led by Investcorp, with participation from existing investors Claypond Capital and SMBC Asia Fund. With this round, the company’s total funding has reached around $130 million. The proceeds will be used to expand into new markets, strengthen its technology platform, and scale its distribution network. It plans to grow its loan book and deepen its presence beyond major cities as demand for affordable housing finance continues to rise. Founded in 2017, Easy Home Finance provides tech-led home loans with a focus on faster approvals and lower paperwork. The firm primarily serves middle-income borrowers, offering mortgage-backed loans through a largely digital process. The Mumbai-based firm last raised a $35 million round led by Ranjan Pai’s family office, Claypond Capital, and Sumitomo Mitsui Banking Corporation’s Asia Rising Fund in November 2024. Prior to this, it also bagged $15 million in a Series A round led by Xponentia Capital in 2021.

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Lightspeed and Premji Invest lead $170 Mn round in Weaver Services

EntrackrEntrackr · 5m ago
Lightspeed and Premji Invest lead $170 Mn round in Weaver Services
Medial

Weaver Services, a technology-led housing finance platform, has raised $170 million in a funding round led by Lightspeed and Premji Invest, with participation from Gaja Capital. The proceeds will be used to acquire assets, strengthen technology, and expand into tier-II and tier-III cities. Led by founder and vice chairman Satrajit Bhattacharya, Weaver is building a next-generation housing finance platform using AI-driven underwriting models and alternative data to serve India’s underserved affordable housing segment, especially self-employed individuals. The company had earlier acquired Capital India Housing Finance as its anchor asset and is evaluating more acquisitions to scale faster. Weaver operates in a competitive space alongside established housing finance companies such as HDFC Ltd, LIC Housing Finance, Aavas Financiers, Home First Finance, and PNB Housing Finance. Housing finance companies have attracted significant funding in the past 12 months. In December, Vastu Housing raised $100 million from Prosus while Easy Home Finance raised $35 million led by Ranjan Pai’s family office and other investors. In September last year, home finance startup Basic Home Loan raised $10.6 million in a Series B funding round. In October, Vridhi Home Finance also raised $35 million in a round led by Norwest Venture Partners.

Altum Credo raises $40 Mn in Series C, provides partial exit to early backers

EntrackrEntrackr · 1y ago
Altum Credo raises $40 Mn in Series C, provides partial exit to early backers
Medial

Housing finance company Altum Credo has scooped up $40 million in its Series C funding round led by Z3Partners and Oikocredit. The financing round also saw participation from British International Investment, and existing investors Aavishkaar Capital, Amicus Capital and PS Pai and family. Altum Credo has raised $27 million in equity and facilitated partial exit to Series A investors of $13 million, the company said via press release. The Pune-based company had previously raised $9.8 million in Series A and $12 million in Series B in 2021. The company plans to use the fresh proceeds to achieve AUM growth by strengthening its distribution network and expanding its operation to more cities. Altum Credo provides financial accessibility for first home buyers across semi-urban and rural areas of India. It provides home loans in the range of Rs 4 lakh to Rs 40 lakh for a tenure of 5-20 years. The company added that the average ticket size of the home loan portfolio is at Rs 8.5 lakhs with a tenure of 15 years. With loan-to-value ratio below 50%, the average value of the properties funded is around Rs 15-25 lakhs. Altum Credo largely focuses on unserved and under-served segments, targeting first time homeowners. As of March 2024, Altum Credo had an AUM of Rs 830 crore ($ 100 million) with 93% of their customers belonging to the economically weaker section (EWS) or low-income group (LIG) category. As per startup data intelligence platform TheKredible, Altum Credo’s revenue from operations scaled 102.4% to Rs 67.2 crore in FY23. Significantly, its profit shot up 99% which stood at Rs 8.95 crore during FY23. It is yet to file FY24 financials. Besides, Altum Credo, Aviom, Easy Home Finance, Basic Home Loan, Andromeda also operate in similar space. Venture capital firm Z3 Partners announced the final close of its Fund at Rs 550 crore in January last year. Earlier this week, it invested $9 million in quick service restaurant chain Wow! Momo.

Redcliffe Labs raises $42 Mn in Series C round

EntrackrEntrackr · 1y ago
Redcliffe Labs raises $42 Mn in Series C round
Medial

Omnichannel diagnostics service provider Redcliffe Labs has raised $42 million in a Series C funding round led by Denmark-based investment firm IFU, which contributed $20 million. Existing investor LeapFrog added $15 million, while the remaining capital came from shareholders HealthQuad and Spark Growth Ventures. This new funding follows the Noida-based company’s previous rounds, including $61 million in its Series B in May 2022 and $10 million in Series A in April 2021. Other notable investors include Schroders, LC Nueva, Chiratae Ventures, and Alkemi Venture Partners. The fresh capital will fuel Redcliffe’s expansion plans, particularly in deepening its presence in tier II and III cities across India. The company plans to open more labs and collection centers and expand its home collection network, according to a press release. Redcliffe has executed strategic acquisitions in North-Western India and continues to pursue PAN-India expansion through partnerships and further acquisitions. In addition to its financial growth, Redcliffe has strengthened its leadership. Ankur Shah, former chief finance and strategy officer of Careem (acquired by Uber), has joined as an independent director. Alka Saxena, formerly of Health Care at Home and Dr. Lal PathLabs, has been appointed as CFO. Currently, Redcliffe Labs’ services are available in more than 220 cities across India through a network of 80 labs, over 2,000 collection centers, and home collection services. The company claims to have served more than 7 million patients across tier I, II, and III cities. Redcliffe Labs’ operating revenue surged 2.6 times to Rs 347 crore in FY23, up from Rs 130 crore in FY22. However, the company’s losses jumped fivefold to Rs 345.6 crore from Rs 67.7 crore over the same period. It competes with notable players such as PharmEasy-owned Thyrocare, Healthians, 1mg, and Dr. Lal PathLabs.

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