Fintech Startup Basic Home Loan Raises $4.7 Million In A Round Led By Investor Ashish Kacholia
Amount Raised
$4.7 Million
Round Type
Seed
GurugramFinancial ServicesFintechLendingDescription
Fintech startup Basic Home Loan, a platform for automating home loans for middle- and low-income households in India, has raised $4.7 million (around Rs 38 crore) in a pre-series B round led by stock market investor Ashish Kacholia. Existing investors Gruhas and Venture Catalysts increased their stake in the company in this round.Powered ByVideo Player is loading.Play VideoPlaySkip BackwardUnmuteCurrent Time 0:00/Duration 50:03Loaded: 1.17%00:00Stream Type LIVESeek to live, currently behind liveLIVERemaining Time -50:03 1xPlayback RateChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedAudio Trackdefault, selectedPicture-in-PictureFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanOpacityOpaqueSemi-TransparentText BackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanOpacityOpaqueSemi-TransparentTransparentCaption Area BackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanOpacityTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.AdvertisementThe funding comes after $3.5 million raised in series A funding in October 2021 and a $500,000 seed round from Picus Capital, a Germany-based early-stage technology investment firm, in October 2020.The company plans to use the funds to expand its distribution network and to launch a proof of concept for its lending arm.“Our pan-India tech-enabled distribution now handles Rs 3,000 crore in monthly applications. Having achieved EBITDA profitability in March 2023, the infusion of new funds will enable us to establish a lending arm, introducing innovative products for un/underserved segments, and pave the way to digitise credit," said Atul Monga, CEO, Basic Home Loan.The new investors in this round were Dexter Angels, IIM Indore Alumni Angel Fund and CommsCredible Venture Fund.Discover the stories of your interestBlockchain5 StoriesCyber-safety7 StoriesFintech9 StoriesE-comm9 StoriesML8 StoriesEdtech6 StoriesDexter Capital Advisors was the advisor to Basic Home Loan for this round of investment.Ashish Kacholia, the lead investor in the pre-series B round, said, “Basic has built a robust platform to enable affordable home loans for the underserved and unserved customer segment through its ‘phygital’ approach
Quick answer
Basic Home Loan raised $4.7 Million in a Seed round, dated June 14, 2023. Basic Home Loan is based in Gurugram, Haryana, India.
- How much did Basic Home Loan raise?
- Basic Home Loan raised $4.7 Million in a Seed round on June 14, 2023.
- What does Basic Home Loan do?
- Founded in 2020, BASIC Home Loan is a fintech company, developing an automated platform for home lending in India.
- Where is Basic Home Loan based and how big is it?
- Basic Home Loan is based in Gurugram, Haryana, India. Fundz records about 8 employees.
- Who are the decision-makers at Basic Home Loan?
- Fundz holds 1 contact at Basic Home Loan. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Financial Services and Fintech around the same time
Companies in the same sectors as Basic Home Loan that raised within 45 days of this round, from Fundz verified event records.
- Momnt raised $35M on July 26, 2023.
- Mercury Financial raised $200M (Funding Round) on July 26, 2023.
- fulfin raised an undisclosed amount (Funding Round) on July 26, 2023.
- Salmon Group raised $20M (Series A) on July 20, 2023.
- TP24 raised $453M (Debt Financing) on July 19, 2023.
- Thunes raised an undisclosed amount (Series C) on July 17, 2023.
Who to call at Basic Home Loan, and when
A new round usually means Basic Home Loan is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Basic Home Loan raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Basic Home Loan, from your own LinkedIn network
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