Gurugram-based fintech startup, Basic Home Loan, which focuses on automating home loans for low- and middle-income households in India, has secured Rs 87.5 crore ($10.6 million) in its Series B funding round. The round was led by Bertelsmann India Investments (BII), the strategic arm of German multinational Bertelsmann SE & Co. KGaA, with participation from CE-Ventures, the venture capital arm of UAE-based Crescent Enterprises.
Prominent investor Ashish Kacholia also increased his stake in this round, and several existing investors, including Gruhas, Let’s Venture, 9Unicorns, and Venture Catalysts, continued their support.
CEO and co-founder of Basic Home Loan, Atul Monga, stated, “This funding will allow us to scale our operations, enhance our technology, and introduce new financial products to better serve our growing customer base. We also plan to expand our FLDG (First Loss Default Guarantee) partnership with lenders, offering solutions that will help us cater to a wider audience.” Dexter Capital acted as the exclusive advisor for this funding round.
The funds raised will be allocated toward expanding the company’s market footprint, building a proprietary lending book, and advancing its technological infrastructure. Rohit Sood, a partner at Bertelsmann India Investments, noted, “Basic Home Loan has developed a powerful, transparent solution through its advanced tech stack. In under three years, it has emerged as a leading channel partner for lenders, benefiting from supportive government policies that favor affordable housing, particularly for lower- and middle-income groups.”
This fintech platform has previously raised $8.7 million in three prior funding rounds. Since its launch, Basic Home Loan has helped nearly 250,000 families across 650 districts in India achieve homeownership, while indirectly generating 15,000 jobs in tier-2 and tier-3 regions. The startup has processed $12 billion in loan applications and disbursed over $1.1 billion in loans through its network of lending partners.
Sudarshan Pareek, Vice President at CE Ventures, expressed his enthusiasm about the partnership, stating, “The way Basic Home Loan merges technology with on-the-ground expertise is remarkable, and we are excited to be part of their journey to reshape the housing finance landscape in India.”
Founded in 2020, Basic Home Loan operates as a tech-driven mortgage marketplace, simplifying the home loan process for customers, particularly in tier-2 and tier-3 cities. Through a hub-and-spoke model, the company has set up hubs in 10 cities and serves customers in 30 cities via a network of 15,000 agents. The company has experienced 10x revenue growth in the past two years, driven by tech-enabled mortgage solutions and favorable policies like the Pradhan Mantri Awas Yojana (PMAY).
With this latest funding, Basic Home Loan aims to deepen its impact in India’s evolving housing market and continue offering innovative financial solutions.