Source: Entrackr
Pune, 25 August 2025 — Altum Credo Home Finance, the company that provides affordable housing loans, announced it completed an additional Rs 170 crore – $19.5 million – equity financing with existing investor British International Investment (BII) (the UK’s development finance institution and impact investor).
This latest funding round will help Altum Credo bolster its balance sheet and expand its operations in southern and western India, where the company already has a footprint.
Concentrate on Affordable Housing
Founded in 2016, Altum Credo provides long-term home loans to people with informal or semi-formal incomes in urban and semi-urban markets. The company offers a model that leverages technology-focused loan processing and underwriting with a strong on-the-ground presence. This pairing goes around the paperwork and logistical constraints that traditional lenders have and allows access to long-term finance to their clients that were, for a very long time, excluded from formal banking systems.
With assets under management (AUM) of over Rs 1,000 crore and over 15,000 customers across six states this company is emerging as one of the key players in the affordable housing finance space, with a focus on first-time homebuyers and the underserved borrowers.
Sustained Funding Momentum
In April 2024, the company raised $40 million in a round led by Z3Partners and Oikocredit. Altum Credo has raised a total of about $80 million so far, according to data platform TheKredible.
Robust Financial Results
The company has also demonstrated strong growth in its financial results. In the fiscal year ended March 2024, Altum Credo reported operating revenue growth of 67% to Rs 112.87 crore. Profits more than doubled at Rs 20 crore due to increased loan disbursements and operational efficiency.
Sector Interest Grows
The funding for Altum Credo comes when India’s affordable housing finance sector is experiencing serious investor demand. Just last week, Weaver Services, another housing finance platform, picked up $170 million in a round led by Lightspeed and Premji Invest. Additionally, Vastu Housing picked up $100 million from Prosus and Easy Home Finance raised $35 million in venture capital funding led by Ranjan Pai’s family office and other investors.
Future Directions: With this new funding from BII, Altum Credo intends to build on its position in existing markets and continue providing support to first time homebuyers. The company’s purpose is simple: to make homeownership a reality for those individuals who have limited access to formal credit, and to support India’s expanding affordable housing ecosystem.
