Bharat Housing Network, an affordable housing co-lending platform, has successfully raised ₹125 crore in its Series A funding round led by Nabventures. Other participants in the funding round include Varanium NexGen Fund, 9Unicorns, Riverwalk Holdings, SMK Ventures, DMI Sparkle Fund, LC Nueva, and additional investors. The platform aims to enhance its technology infrastructure and plans to boost gross disbursements in the segment, targeting $500 million over the next three years.
Lalit Meghnani, the founder of Bharat Housing Network, emphasized the importance of a robust housing sector for India’s development and innovation in housing finance to enhance accessibility and affordability across income groups. The platform operates on a hybrid capital model, providing credit both on and off the balance sheet. Since its inception in 2021, Bharat Housing Network has onboarded 23 financial institutions and facilitated capital delivery through its network in 200 locations across 12 states.
Nabventures, the lead investor, is a venture capital fund focused on agri-food-rural tech, supported by entities such as the National Bank for Agriculture and Rural Development (Nabard), SIDBI, Axis Bank, LIC, and others. This marks Nabventures’ seventh investment in 2023, and it aims to conclude the year by investing in a total of nine companies.
That’s fantastic news! Bharat Housing Network is making waves in the housing finance industry. They have recently secured an impressive ₹125 crore in Series A funding, and they are becoming a major player in the tech world. Sending my best wishes to the Bharat Housing Network team!
~ Dr Shishir Gupta founder & CEO of StartupLanes
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