Ummeed Housing Finance Raises USD 76 Mn to Expand into Central and Southern India Currently, the Gurugram-based platform claims to operate in 7 states of North and Central India with a team of 1300 employees and 115 branches and plans to expand further into the South.

Ummeed Housing Finance has announced an equity fundraise of about USD 76 million in series F round from A91 Partners LLP, Mirae Asset Venture Investments (India), Anicut Capital, and existing investors Norwest Venture Partners. DC Advisory India was the exclusive financial advisor to Ummeed and its existing shareholders.

The financing includes around INR 300 crore in primary capital to support the company's expansion into central and southern India. Additionally, the round facilitated an exit for Lightrock Global Fund S.A., which had invested in Ummeed in 2018.

Other significant investors in the company include Ashutosh Sharma (Founder and MD), Morgan Stanley, and CX Partners.

Ashutosh Sharma, Founder and MD of Ummeed Housing Finance, said, "With this equity infusion, we are well-positioned to execute our ambitious growth plan, focusing on housing loans and small-ticket business loans for informal income segments, steadily building a granular portfolio that reflects our staunch commitment to inclusive financial solutions."

"As we set out on this exciting chapter together, I am confident that we will remain dedicated to serving underserved communities while maintaining consistency in growth and asset quality, thus creating lasting value for all stakeholders," he added.

Founded in 2016 by Ashutosh Sharma, Ummeed provides affordable housing loans and secured small-ticket business loans to self-employed individuals in the low and middle-income categories.

Currently, the Gurugram-based platform claims to operate in 7 states of North and Central India with a team of 1300 employees and 115 branches and plans to expand further into the South.

Since its founding, the company has said that it has grown at a rate of over 60% CAGR, putting a strong emphasis on good asset quality and growing its liability franchise. It claims to have a robust liability franchisee with access to 31 diverse sets of lenders, including NHB, 8 PSU banks, 14 private sector banks, and 3 DFIs, including the United States International Development Finance Corporation.

Gautam Mago, General Partner of A91 Partners, said, "Housing and business finance for middle- and low-income borrowers is a large and important market for India, and we hope to contribute to Ummeed's endeavor to be one of the best companies serving this consumer base."