Altum Credo Home Finance, a Pune-based housing finance company, has raised ₹170 crore in equity from British International Investment (BII). The UK government-backed development finance institution has been an existing investor in the company. The capital will support Altum Credo’s plan to expand affordable housing credit access across its current markets in India.
The investment is expected to improve credit availability for low-income households, many of whom are first-time borrowers. A large share of Altum Credo’s customers are women, using housing loans for building homes or upgrading essential infrastructure such as sanitation, electricity, and safety. The funding will also be deployed to strengthen the company’s technology systems, aimed at improving customer service and digital delivery.
Vikrant Bhagwat, Managing Director and CEO of Altum Credo, said: “We greatly value the continued support and confidence shown by British International Investment through this fresh equity infusion. This investment further strengthens our balance sheet for a long-term sustainable impactful growth journey and our commitment to cater meaningfully to the large unmet demand for affordable housing finance in India.”
Shilpa Kumar, Managing Director and Head of India at BII, added: “We are continuing our investment with Altum as it aligns with BII’s commitment to inclusive growth by expanding access to affordable housing finance for communities across India. Through this partnership, Altum is enabling low-income households, especially women, to access safer, more secure homes and essential services. As part of our broader climate and impact strategy, we view housing as a critical enabler of resilience and long-term development.”
Altum Credo has served more than 15,000 customers across six states in southern and western India. The company has built an assets under management (AUM) portfolio exceeding ₹1,000 crore. Its focus remains on first-time, low-income homeowners who face challenges in accessing long-term housing finance from traditional institutions.
India’s affordable housing finance segment is projected to grow sharply in the coming years. According to an EY report released in April, the sector could reach ₹67 trillion by FY30. The report highlighted that the top ten states, including Uttar Pradesh, Maharashtra, and Tamil Nadu, account for over 75 percent of this demand, representing a financing potential of ₹7.7 trillion across the country.
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By Ravi Kumar