Altum Credo Home Finance, a non-deposit-taking affordable housing finance company, has raised ₹170 crore ($19.5 million) in equity from its existing investor British International Investment (BII), the UK’s development finance institution and impact investor.
Funding Snapshot
- Investor: British International Investment (BII)
- Amount Raised: ₹170 crore (~$19.5 million)
- Cumulative Capital Raised: ~$80 million till date
- Previous Round: $40 million in April 2024 led by Z3Partners and Oikocredit
India’s affordable housing sector continues to face a financing gap, particularly for families with informal or semi-formal incomes who are underserved by traditional lenders. Founded in 2016 by Vikrant Bhagwat, Ganesh Rao, and Ashish Tewari, Altum Credo addresses this challenge by offering long-tenure home loans in urban and semi-urban markets. Its tech-enabled origination and underwriting platform, combined with a strong on-ground presence, reduces friction and improves loan access for first-time homeowners.
Use of Funds
The latest capital infusion will strengthen Altum Credo’s balance sheet and support its expansion across southern and western India, deepening its reach in core geographies.
Performance & Edge
With assets under management (AUM) crossing ₹1,000 crore, Altum Credo has already catered to 15,000+ customers across six states. In FY24, the company reported a 67% surge in operating revenue to ₹112.87 crore, while profits more than doubled to ₹20 crore, underlining its sustainable growth path.
Market Watch
India’s housing finance sector is witnessing a wave of sizable deals. Just last week, Weaver Services raised $170 million led by Lightspeed and Premji Invest, while Vastu Housing secured $100 million from Prosus, and Easy Home Finance bagged $35 million from Ranjan Pai’s family office. Altum Credo’s latest raise further signals strong investor confidence in the affordable housing finance opportunity.
Final Take
Altum Credo’s mission goes beyond financing it’s about enabling dignity, security, and opportunity for thousands of Indian families. With BII’s backing, the company is well-positioned to scale its impact in the next phase of growth.
Follow StartupByDoc to track how founders like Vikrant, Ganesh, and Ashish are reshaping affordable housing in India.