Vridhi Home Finance raises Rs 150 Cr in Series A round led by Elevation Capital
The housing finance company will use the funds towards geo-expansion in north Karnataka and Andhra Pradesh, strengthening the tech stack, hiring, and building a liability franchise.
Vridhi Home Finance, a tech-enabled brick-and-mortar housing finance company, has raised Rs 150 crore in a Series A round led by Elevation Capital.
Having been bootstrapped until now, the funds raised will be deployed towards geo-expansion in north Karnataka and Andhra Pradesh, strengthening the tech stack, hiring, and building a liability franchise.
The Bengaluru-headquartered company received its NBFC–HFC license earlier this year and has opened twenty branches across Karnataka and Andhra Pradesh since then.
“With this substantial capital infusion, we are poised to advance our mission of providing accessible housing solutions. Our commitment to transforming homeownership aspirations into reality for numerous individuals nationwide remains resolute," stated Sunku Ram Naresh, Founder, MD and CEO of .
Currently operating in Karnataka and Andhra Pradesh, Vridhi aims to create a channel for secured housing loans, serving salaried and self-employed individuals in Tier II/III cities across India.
“Vridhi is democratising access to credit for a massively underserved population, thereby bolstering financial inclusion. The Vridhi team brings unparalleled industry experience and drive to make homeownership more affordable and accessible to Indians. We are excited to partner with them to make this vision a reality,” said Mridul Arora, Partner, Elevation Capital.
Edited by Kanishk Singh