Ummeed Housing Finance Private Limited, a prominent provider of housing loans, has secured $76 million (approximately ₹630 crore) in Series F funding from A91 Partners LLP, Mirae Asset Venture Investments (India) and Anicut Capital. Existing investor Norwest Venture Partners also participated in the round.

The Gurugram-based company plans to utilize the funds to expand its operations into central and southern India and enhance its technology and processing capabilities. The funding round includes nearly ₹300 crore in primary capital and marks the exit of Lightrock Global Fund S.A., an investor in Ummeed since 2018. Other significant investors include founder Ashutosh Sharma, Morgan Stanley and CX Partners.

With the latest fundraising, Ummeed has raised a total of $150 million to date. According to the sources, the company had a valuation of $300 million as of April 5, 2024. The company and its current shareholders have exclusive financial advice for the transaction from DC Advisory India.

Ashutosh Sharma, a former managing director of Citi, founded Ummeed in 2016 with the goal of helping people in the low- and middle-income categories with housing loans and small-ticket business loans. The company claims to have disbursed loans totaling more than ₹2,800 crore via its extensive network of over 115 branches located in Tier 2 and Tier 3 cities. With ₹1,800 crore in assets under management, Ummeed aims to bolster India’s rapidly expanding affordable housing finance sector, which is expected to reach ₹57,000 crore by 2028.

Read More: Click Here