Total amount raised
$19.1 Million
Latest funding date
9/1/2024
Location
Basic Home Loan has successfully raised funds over four rounds, with the latest being a Series B, attracting a total of 29 investors, including lead investors like Bertelsmann India Investments and CE-Ventures. The platform offers a comprehensive mortgage distribution service, leveraging technology to streamline the loan process for prospective homeowners.
Keep reading to explore the intricacies of Basic Home Loan's fundraising journey and the investors backing this innovative platform.
What Is Basic Home Loan?
Basic Home Loan, founded in 2020, is a fintech company based in Gurgaon, Haryana, India. The company specializes in providing a mortgage distribution platform designed to automate the loan process for prospective homeowners.
Operating in industries such as consumer lending, finance, financial services, fintech, and real estate, Basic Home Loan employs between 251 and 500 people. The company aims to streamline home lending in India through technology, offering services like home loan advisory, loan against property, and balance transfer.
How Much Funding Has Basic Home Loan Raised?
- Seed Round
- Amount Raised: $500,000
- Date: October 2020
- Lead Investors: Picus Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial development and growth.
- Series A
- Amount Raised: $3,500,000
- Date: October 2021
- Lead Investors: Gruhas, Venture Catalysts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's initial growth and development efforts.
- Pre-Series B
- Amount Raised: $4,700,000
- Date: June 2023
- Lead Investors: Ashish Kacholia
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the distribution network and develop a proof of concept for its lending arm.
- Series B
- Amount Raised: $10,500,000
- Date: September 2024
- Lead Investors: Bertelsmann India Investments, CE-Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance technological capabilities.
Total Amount Raised: $19,200,000. Current Valuation: Not publicly disclosed.
Key Investors
- Bertelsmann India Investments
- Details: Bertelsmann India Investments is the strategic investment arm of Bertelsmann SE & Co. KGaA in India. They focus on investing in innovative companies that have the potential to become market leaders.
- Investment Focus Areas: Media, services, education
- Notable Investments: Not publicly disclosed
- CE-Ventures
- Details: CE-Ventures is the corporate venture capital arm of Crescent Enterprises, focusing on strategic investments in high-growth sectors. They aim to support companies that drive innovation and create sustainable value.
- Investment Focus Areas: Technology, healthcare, consumer sectors
- Notable Investments: Not publicly disclosed
- Ashish Kacholia
- Details: Ashish Kacholia is a prominent stock market investor known for his strategic investments in high-growth potential companies. He has a reputation for identifying and backing successful ventures.
- Investment Focus Areas: Stock market investments
- Notable Investments: Not publicly disclosed
- Gruhas
- Details: Gruhas is an investment firm that focuses on innovative products and digitized home financing solutions. They have been a significant backer of Basic Home Loan, increasing their stake in multiple rounds.
- Investment Focus Areas: Real estate, proptech
- Notable Investments: Not publicly disclosed
- Venture Catalysts
- Details: Venture Catalysts is an early-stage investment firm that supports startups across various sectors. They have been a consistent investor in Basic Home Loan, participating in multiple funding rounds.
- Investment Focus Areas: Early-stage startups, various sectors
- Notable Investments: Not publicly disclosed
What's Next for Basic Home Loan?
Basic Home Loan is poised for significant growth as it expands its distribution network and develops a proof of concept for its own lending arm. The company aims to disburse over Rs 6,000 crore in home loans over the next 18 months, leveraging its technology to automate the loan process for middle- and low-income households in India.
Future fundraising opportunities are likely as the company scales its operations and introduces innovative products for underserved segments. The fintech sector's focus on automation and digital lending platforms aligns well with Basic Home Loan's mission, suggesting strong investor interest in upcoming rounds.
However, challenges such as competition from other fintech companies, regulatory hurdles, and ensuring the scalability of their technology platform may arise. Successfully navigating these obstacles will be crucial for Basic Home Loan to maintain its growth trajectory and achieve its ambitious goals.
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