Premji Invest, Lightspeed invests $170 million in housing finance platform Weaver Services

Weaver Services, a technology-first housing finance platform aiming to transform affordable housing finance in India, announced today that it has raised $170 million in a funding round led by Lightspeed and Premji Invest. Gaja Capital also participated in the round.

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Weaver is building a next-generation housing finance platform through use of technology and AI-driven workflows, to serve India's vast underserved affordable housing segment with a focus on self-employed individuals.

Earlier, Weaver acquired Capital India Housing Finance as an anchor asset for the platform. It is likely to acquire another asset for initial scale and is currently evaluating a few assets for this purpose.

The investment will accelerate Weaver's asset acquisition, fund technology development, and expand reach across tier-2 and tier-3 cities where the affordable housing gap is most acute. The company intends to combine strong market expertise in affordable housing with proprietary tech-driven underwriting models that leverage alternative data to assess creditworthiness beyond traditional parameters, enabling faster approvals and more inclusive lending.

Leading Weaver's transformation is Founder and Vice Chairman Satrajit Bhattacharya, an industry veteran with three decades of experience at HDFC Ltd. Alongside him, Co-Founder and CEO Anil Kothuri brings three decades of deep expertise in financial services, working at FedFina, Edelweiss and Citi.

“We aim to make housing finance more accessible to the people of India by leveraging technology and placing customers at the centre of our focus thereby bringing in a new paradigm in the space,” said Satrajit Bhattacharya, Founder and Vice Chairman of Weaver Services.

"There is a clear opportunity to use technology mindfully to offer home loans to the informal segment, while achieving better customer selection, superior risk management, and enhanced productivity,” said Anil Kothuri, MD and CEO of Weaver Services.

"We believe that India's housing finance market remains under-penetrated and we see it as a tremendous opportunity. Weaver’s combination of deep domain expertise, AI-driven capabilities, and a tech-first approach that positions them to democratize home ownership for millions of underserved Indians. At Lightspeed, we partner with bold, visionary founders with conviction to build extraordinary category leading companies,” said Anuvrat Jain, Principal - Growth Investments, Lightspeed. 

"At Premji Invest, we see a significant opportunity to leverage technology to transform the affordable housing finance sector in India. The acquisition of Capital India Housing Finance by Weaver Services marks an important first step toward delivering frictionless, scalable, and inclusive mortgage solutions for underserved segments,” said Saravanan Nattanmai, Partner, Premji Invest.