Ummeed Housing Finance raises $76 million in Series F funding
Summary
Ltd has raised a Series F funding equity round of $76 million, or about 630 crore, from A91 Partners LLP, Mirae Asset Venture Investments (India), and Anicut Capital. Existing investor Norwest Venture Partners also participated in the round.The primary capital will drive the companys expansion in central and southern India.The latest funding round, which includes nearly 300 crore in primary capital, also marked the exit of Lightrock Global Fund S.A., an investor in Ummeed Housing Finance since 2018. Other significant investors in the company include founder Ashutosh Sharma, Morgan Stanley, and CX Partners.With this latest fundraise, Ummeed has raised $150 million to date.The Gurugram-based company provides affordable housing loans and secured small-ticket business loans to self-employed individuals in the low and middle-income categories. This improvement in rating underscores the companys solid financial health and growth prospects.It has a robust liability franchisee with access to 31 diverse lenders, including NHB, 8 PSU banks, 14 Private sector banks, and 3 DFIs, including the United States International Development Finance Corporation.We welcome our new partners A91 who are catalysing Indian entrepreneurs in the consumer, technology, and financial services space and Mirae, Asias leading asset manager who are investing through their India focused fund. Existing investor Norwest Venture Partners also re-invested in this round showcasing trust and believing in the vision of Ummeed, said Ashutosh Sharma, Founder & MD of Ummeed Housing Finance.With this equity infusion, we are well-positioned to execute our ambitious growth plan, focusing on housing loans and small ticket business loans for informal income segments, steadily building a granular portfolio that reflects our staunch commitment to inclusive financial solutions, he added.