Angel Investments
Affordable housing finance co Basic HomeLoan raises $4.7 M
Gurugram-based fintech startup Basic HomeLoan has raised USD 4.7 million in a pre-Series B round led by well known stock market investor Ashish Kacholia. Existing investors Gruhas and Venture Catalysts have also participated. The funds will be used to expand its distribution network to new geographies, and for building a proof of concept to start its own lending arm. With this investment, the company has raised USD 8.7 million since inception including a USD 3.5 million Series A round in October 2021. Founded in 2020 by Atul Monga and Kalyan Josyula, Basic Home Loan is developing a platform for automating home loans for middle and low-income households. It aims to disburse over INR 6,000 crore worth home loans over the next 18 months. Since inception, the company claims to have helped nearly 1 lakh families in over 650 districts to have a house of their own.
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