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.
The fresh infusion will strengthen Altum Credo’s balance sheet and accelerate its expansion across existing geographies in southern and western India.
Funding Snapshot
- Amount Raised: ₹170 crore ($19.5 million)
- Lead Investor: British International Investment (BII)
- Total Funding Till Date: $80 million
- Previous Round: $40 million (April 2024) led by Z3Partners and Oikocredit
Founded in 2016, Altum Credo focuses on long-tenure housing loans for customers with informal or semi-formal incomes in urban and semi-urban India. Using a tech-enabled origination and underwriting platform combined with deep on-ground presence, the company reduces operational friction and widens financial access for first-time borrowers.
Traction & Scale
To date, Altum Credo has catered to 15,000+ customers across six states with AUM exceeding ₹1,000 crore. In FY24, the company reported:
- Revenue: ₹112.87 crore (up 67% YoY)
- Profit: ₹20 crore (2x growth YoY)
Market Context
India’s affordable housing finance sector is gaining strong investor attention. Just last week, Weaver Services secured $170 million from Lightspeed and Premji Invest. Other notable deals include Vastu Housing’s $100 million round from Prosus and Easy Home Finance’s $35 million raise led by Ranjan Pai’s family office.
Final Take
Altum Credo’s fresh funding reinforces its mission to bridge the credit gap for under-served households. With growing demand for affordable homeownership and increasing investor confidence, the company is well-positioned to scale responsibly in India’s high-potential housing finance market.
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