BASIC Home Loan raises funds led by Venture Catalysts, others
Summary
The company plans to achieve a monthly loan disbursal run rate of Rs 200 crore and hire 300 plus people in the workforce by March 2022. We have had a great start in our journey, creating a strong distribution network in affordable housing hotspots in 15 cities in the first 12 months,” said Atul Monga, Co-Founder & CEO, BASIC Home Loan. The founders have the experience of building ventures in the fintech space and have worked with companies such as PolicyBazaar, Ola, Lazada, Credit Suisse, and Rocket Internet. In September, Gurugram-based Ummeed Housing Finance raised Rs 270 crore ($37 million) in its Series E funding round led by Norwest Venture Partners and joined by existing investor Morgan Stanley Private Equity Asia. In the same month, Homeville Consulting Pvt Ltd, a housing credit enablement network raised $7 million (around Rs 52 crore) from 9Unicorns, Varanium NexGen Fund, and others.