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Bharat Housing Network raises 125 Crores in Series A Funding
The Business Guardian
|November 12, 2023
Bharat Housing Network, a technology platform for co-lending in affordable housing, has raised 125 crores led by NABVENTURES Fund with participation by Varanium NexGen Fund, 9Unicorns, Riverwalk Holdings, SMK Ventures, DMI Sparkle Fund, LC Nuevaand other investors.
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NABVENTURES Fund is India's best performing VC fund focused on agri-food-rural tech including rural fintech backed by NABARD, SIDBI, Axis Bank, LIC and others. This is the seventh investment announced by NABVENTURES Fund in the first ten months of 2023.
Bharat Housing Network is India's largest co-lending infrastructure for credit delivery in the affordable mortgage priority sector. The platform provides capital, technology and infrastructure to housing finance companies and non-banking finance companies for housing credit delivery at the grassroot level. To drive growth and scale, the platform operates on a hybrid capital model-on and off-balance sheet lending.
Housing finance opportunity is vast in India. India's growing population, rising household incomes and declining size of the average household are fuelling housing demand. The industry is expected to grow at a CAGR of 13-14 per cent in the long run with home loan originations expected at Rs 10.4 trillion by FY25 and Rs 18.7 trillion by FY30. Demand is highest in the <Rs2.5mn ticket size category.
This story is from the November 12, 2023 edition of The Business Guardian.
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