VC Fund Investments
Basic Home Loan raises $10.6 M in Series B led by Bertelsmann
Gurugram-based fintech startup Basic Home Loan has raised USD 10.6 million (around INR 87.5 crore) in a pre-Series B round led by Bertelsmann India Investments (BII). Existing investors Ashish Kacholia, Gruhas, LetsVenture, 9Unicorns and Venture Catalysts also participated in the fundraise. Dexter Capital acted as the exclusive advisor to the company on this transaction.The new funds will be used to expand the firm’s market, build its lending book and to strengthen technology.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.Since inception, the company claims to have helped nearly 2.5 lakh families in over 650 districts to have a house of their own.
Between Oct 2021 and Jun 2023, Basic Homeloan has raised USD 8.7 million from Venture Catalysts, Ashish Kacholia, LetsVenture, AngelList, Haldiram Family Office and Bharat Founders Fund Syndicate among others.
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