Categories: LatestProjects

Bharat Housing Network raises 125 crores in its Series A led by NABVENTURES Fund

Delhi,  November 10,  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 Nueva and other investors. 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 mortgages-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 is fuelling housing demand. The industry is expected to grow at a CAGR of 13-14% in the long run with home loans 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.

 The co-lending platform is focused at building India’s largest network and infrastructure sharing platform for co-lending in impact sectors. The platform enables lenders to build priority sector assets without incurring significant capital and operating expenditure. Gross disbursements in the priority segment through the platform is targeted to reach $500 million in the next 3 years.

 The platform’s integrated technology stack provides a complete co-lending solution to lenders for the affordable housing finance segment. Partners on the platform are able to co-lend with faster turnaround times and greater efficiency. Bharat Housing Network has onboarded 23 financial institutions and leverages partner branch network to deliver capital in 200 locations across 12 states. Since its inception in 2021, the platform has grown multi-fold while maintaining a high-class asset quality with near zero delinquencies.

 The platform is enabling financial inclusion by empowering regional players to deliver credit across semi-urban and rural areas. It is focused on delivering housing credit to tier II, III and other cities to the low-income group and economically weaker sections of the society. The platform is contributing directly or indirectly to 13 UN Substantiable Development Goals (SDGs).

 Rajesh Ranjan, CEO of NABVENTURES Fund commented, “Rapid urbanisation has led to an unprecedented increase in the demand for affordable housing. However, the shortage of affordable housing has affected millions around the world, particularly those with low and moderate incomes. In his Independence Day speech, Prime Minister had mentioned about ensuring affordable credit for poor and middle-class housing. Our investment in Bharat Housing Network builds on the stellar efforts of PM Awaas Yojana and other government initiatives to encourage low-cost housing and affordable loans for the same. Bharat Housing Network endeavours to bring down the cost of borrowing for home loan buyers in Bharat’s hinterlands. Bharat Housing Network is our seventh investment this year and we intend to invest in at least 9 startups by the year-end.”

 Lalit Menghani, Founder added, “India needs a very strong housing sector to become a developed economy. Housing finance is at the core of our business model and we continue to innovate to make housing credit more accessible and affordable across income groups”

 Equity360 was the financial advisor to the company on the transaction.

Corporate Comm India (CCI Newswire)

The Property Times News Bureau

Recent Posts

Sohna emerges as new micro-market in Delhi-NCR; set to add 16000+ residential units in 3 years

New Delhi, November 05, 2024: Haryana’s Sohna is emerging as a new micro-market in the…

9 hours ago

Neo Developers Pvt Ltd. Appoints Manpreet Kaur as President – Sales

New Delhi, November 04, 2024: Neo Developers, a leading real estate company has announced the…

1 day ago

Renny expands its product range with focus on Green Manufacturing and New Solutions

New Delhi, November 02, 2024: Renny, a frontrunner in the building materials industry, continues to lead…

4 days ago

Rajkot Municipal Corporation Raises Rs 100 Crore Through Bond Issue to Boost Infrastructure & Community Services

New Delhi, November 01, 2024: To boost infrastructure and community services, Rajkot Municipal Corporation raised…

5 days ago

Diverse achievements celebrated in 11th PropertyGuru Asia Awards Malaysia in partnership with iProperty

Experts and Consumers Recognise Excellence in Development, Design, and ESG across 58 Categories Kualalumpur, October…

6 days ago

Transindia Real Estate Limitedreports Q2FY24 earnings

Mumbai, October 30, 2024: Transindia Real Estate Limited  has announced its financial results for the…

6 days ago