PE-VC Fund Investments
Affordable housing loans player Altum Credo raises addl Rs.70-Cr from BII
Pune-based affordable housing finance company Altum Credo has raised additional INR 70 crore (USD 8.2 million) in a Series C round from existing investor British International Investment (BII). The company issued 40,46,243 Series C1 CCPS at INR 173 per share to raise the amount. Post investment BII's stake will increase to 12.55% from 9.04%.The fresh proceeds from the funding will be used to expand the company’s lending operations and geographic footprint.Founded in 2016, Altum Credo offers housing finance to economically weaker and low-income groups, and primarily serves first-time homebuyers in semi-urban and rural India.
Between Jan-18 and Jul-25, Altum Credo had attracted about USD 73-M from Aavishkaar, Amicus Capital, British International Investment, Oikocredit, Z3Partners, others.For FY24, Altum Credo had reported about INR 112.87Cr in Operating Income and about INR 19.98 Cr in PAT.
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