PE-VC Fund Investments
Affordable housing loans player Altum Credo raises Rs.100-Cr from BII
Pune-based affordable housing finance company Altum Credo has raised INR 100 crore (USD 11.8 million) in a Series C round from existing investor British International Investment (BII). The company issued 57,80,347 Series C1 CCPS at INR 173 per share for the issue.The fresh funding will be used by the company for expanding the geographic reach and to strengthen lending operations.Founded in 2016, Altum Credo focuses on the home finance needs of the customer segments belonging to low and medium income groups in the semi urban and rural areas.
Between Jan-18 and Apr-24, Altum Credo had attracted about USD 61.64-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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