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Bharat Housing Network raises Rs 125 cr in its Series A led by NABVENTURES Fund  

Bharat Housing Network, a technology platform for co-lending in affordable housing, has raised 125 crores led by NABVENTURES Fund with participation by Varanium NexGen Fund, 9Unicorns, Riverwalk Holdings, SMK Ventures, DMI Sparkle Fund, LC Nueva and other investors. NABVENTURES Fund is India’s best performing VC fund focused on agri-food-rural tech including rural fintech backed by NABARD, SIDBI, Axis Bank, LIC and others. This is the seventh investment announced by NABVENTURES Fund in the first ten months of 2023.

Bhart Housing Network is co-lending infrastructure for credit delivery in the affordable mortgages-priority sector. The platform provides capital, technology and infrastructure to housing finance companies and non-banking finance companies for housing credit delivery at the grassroot level. To drive growth and scale, the platform operates on a hybrid capital model-on and off-balance sheet lending. 

Rajesh Ranjan, CEO of NABVENTURES Fund commented, “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. In his Independence Day speech, Prime Minister had mentioned about ensuring affordable credit for poor and middle-class housing. 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. Bharat Housing Network endeavours to bring down the cost of borrowing for home loan buyers in Bharat’s hinterlands. Bharat Housing Network is our seventh investment this year and we intend to invest in at least 9 startups by the year-end.”

Lalit Menghani, Founder added, “India needs a very strong housing sector to become a developed economy. Housing finance is at the core of our business model and we continue to innovate to make housing credit more accessible and affordable across income groups”

Equity360 was the financial advisor to the company on the transaction.