Fintech firm BASIC Home Loan gets $3.5 mn from Series A funding
Real Estate

Fintech firm BASIC Home Loan gets $3.5 mn from Series A funding

Fintech firm BASIC Home Loans has raised $3.5 million in Series A funding led by Venture Catalysts and Gruhas Proptech, Earlsfield Capital and Good Capital. The other companies that participated in the round include Haldiram's Lets Venture, led by Anupam Mittal, promoters Sapient Wealth, Amit Nanavati, Dhruv Dhanraj Bahl, Parag Shah, Alex Babu and Alex Lin.

Omaxe, Rustomjee Group and Thakker Developers also invested in the company.

Co-founder and CEO of BASIC, Atul Monga, said that the company has a strong network in affordable housing and 15 cities in just one year. It has strengthened its distribution over 40 cities, including digitization of credit processes in the next phase.

The company said that it had disbursed Rs 400 crore of loans in over 15 cities and as more than 25 banking partners.

It aims to disburse Rs 6,000 crore loans for households within the next 18 months. It plans to disburse a monthly loan of Rs 200 crore and hire over 300 people by March 2022.

BASIC said that about 25% of the loan amount is with Pradhan Mantri Awas Yojna (PMAY) applications and 30% for the construction of new houses.

Image Source

Also read: Alliance Group gets Rs 165 cr from Kotak for realty project in Chennai

Fintech firm BASIC Home Loans has raised $3.5 million in Series A funding led by Venture Catalysts and Gruhas Proptech, Earlsfield Capital and Good Capital. The other companies that participated in the round include Haldiram's Lets Venture, led by Anupam Mittal, promoters Sapient Wealth, Amit Nanavati, Dhruv Dhanraj Bahl, Parag Shah, Alex Babu and Alex Lin. Omaxe, Rustomjee Group and Thakker Developers also invested in the company. Co-founder and CEO of BASIC, Atul Monga, said that the company has a strong network in affordable housing and 15 cities in just one year. It has strengthened its distribution over 40 cities, including digitization of credit processes in the next phase. The company said that it had disbursed Rs 400 crore of loans in over 15 cities and as more than 25 banking partners. It aims to disburse Rs 6,000 crore loans for households within the next 18 months. It plans to disburse a monthly loan of Rs 200 crore and hire over 300 people by March 2022. BASIC said that about 25% of the loan amount is with Pradhan Mantri Awas Yojna (PMAY) applications and 30% for the construction of new houses. Image Source Also read: Alliance Group gets Rs 165 cr from Kotak for realty project in Chennai

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement