Bharat Housing Network raises Rs 125 Cr in Series A led by NABVENTURES Fund
This is NABVENTURES Fund's seventh investment in a startup in the first ten months of 2023, with plans to support at least nine more by the end of the year.
, a housing co-lending technology platform, has raised Rs 125 crore in Series A round led by NABVENTURES Fund, marking its seventh investment in startups in 2023.
The investment, co-led by Varanium NexGen Fund, , Riverwalk Holdings, SMK Ventures, and DMI Sparkle Fund, was advised by Equity360.
The fund said it plans to support nine more startups by the end of the year.
“Rapid urbanisation has led to an unprecedented increase in the demand for affordable housing. However, the shortage of affordable housing has affected millions around the world, particularly those with low and moderate incomes," said Rajesh Ranjan, CEO of NABVENTURES Fund.
Established in 2021, Bhart Housing Network is a co-lending platform that provides capital, technology, and infrastructure to housing finance and non-banking finance companies for housing credit delivery at the grassroot level.
"Our investment in Bharat Housing Network builds on the stellar efforts of PM Awaas Yojana and other government initiatives to encourage low-cost housing and affordable loans for the same,” he added.
Operating on a hybrid capital model, it aims to build network and infrastructure sharing platforms for co-lending in impact sectors. The platform focuses on delivering housing credit to tier II, III, and other cities, contributing to 13 UN Substantiable Development Goals directly or indirectly.
NABVENTURES, a venture growth equity fund with an AUM of Rs 598 crore, invests in food, agritech, and rural fintech. It has invested Rs 315 crore in 13 startups, including Vilcart, Beyond Snack, Jai Kisan, and Bharat Housing Network.
It is backed by the National Bank for Agriculture and Rural Development and has LPs from various banks.
Edited by Megha Reddy