Ummeed Housing Finance is said to have raised $70 million in funding, while Nivara Home Finance has garnered $10 million from Baring Private Equity India.
A91 Partners leads funding in Ummeed Housing Finance
Gurugram-headquartered Ummeed Housing Finance has raised $70 million in funding led by growth stage investor A91 Partners, stated a report by Moneycontrol.
The investment is said to have pegged the valuation of the firm at around $300 million, the report said.
DealStreetAsia had first reported about the development in February.
Late last year, Ummeed Housing Finance made headlines when it raised about $20 million in debt funding from the US International Development Finance Corporation (DFC) to ramp up affordable housing finance for the underserved and underbanked population.
Prior to that, it raised around $40 million in two tranches in 2021 from Norwest Venture Partners and Morgan Stanley Private Equity Asia in its Series E round. The company also counts LGT Lightstone Aspada and CX Partners among its backers.
Baring PE India invests $10m in Nivara Home Finance
Nivara Home Finance has garnered $10 million from Baring Private Equity (PE) India as it looks to ramp up its expand its operations.
Established in 2015, the company provides affordable housing finance to micro-entrepreneurs and salaried customers across five states including Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, and Maharashtra. It doles out loads in the range of Rs 5-7.5 lakh.
The company claims to have built an AUM of Rs 500 crore.
Baring PE Asia, one of the oldest fund managers in India, counts Battery Smart, Lohum, mPokket, BluSapphire and Videoverse, among its portfolio firms.
