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.

By Paromita Gupta

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Ashutosh Sharma, Founder and MD of Ummeed Housing Finance

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."

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
Business News

Over 1,300 Google Employees Have Signed a New Petition Asking For Job Security

Google laid off thousands of employees in the past two years, which has left some employees feeling insecure about keeping their jobs.

Business News

'I Hate Bureaucracy': Leaked Internal Amazon Document Reveals How the Tech Giant Is Cutting Down on Middle Management

Amazon could soon let go of thousands of managers, resulting in savings of up to $3.6 billion.

Business News

'Gen Z Is Obsessed': Chili's Sales Have Skyrocketed Thanks to the Triple Dipper and Turbo Chefs

On an earnings call this week, one analyst said the company's turnaround was "the best one of all time" in the restaurant industry.

Leadership

The 2025 Leadership Playbook — Strategies to Help You Thrive in Uncertain Times

How to lead through uncertainty, adapt to challenges and position your organization for lasting success.