Ummeed Housing Finance raises Rs.270-Cr led by Norwest

Gurgaon-based affordable housing finance company Ummeed Housing Finance (UHFL) has raised INR 270 crore in a Series E funding round led by Norwest Venture Partners with participation from existing investor Morgan Stanley (via Morgan Stanley Private Equity Asia). Founded in 2016, UHFL caters to the informal and the low-income households predominately in Tier II and Tier III towns through 42 hubs across Rajasthan, Haryana, Delhi NCR and Uttarakhand. UHFL is looking to take its assets under management (AUM) to INR 1,300 crore over the next 18 months. The company has so far disbursed more than INR 1,000 crore in loans to over 12,000 customers.