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Pune-based affordable housing finance company Altum Credo raises $40 million

ISN Team
New Update
Vikrant Bhagwat (Promoter) MD & CEO

Vikrant Bhagwat (Promoter) MD & CEO

Altum Credo, a Pune-based affordable housing finance company, has closed its Series C funding round, raising $40 million. 

The round was led by Z3Partners and Oikocredit, with participation from British International Investment, Aavishkaar Capital, Amicus Capital, and Mr. PS Pai & family. The funding includes $27 million in equity and a $13 million partial exit for Series A investors.

How will Altum Credo utilize this new capital?

Founded in 2017 by Vikrant Bhagwat, Ganesh Rao, and Ashish Tewari, The company plans to use the raised capital to boost its Asset under Management (AUM) by expanding its operational footprint and enhancing its distribution network. 


According to Vikrant Bhagwat, founder MD & CEO of Altum Credo, the capital injection is crucial for the next phase of sustainable growth, aiming to improve the company's balance sheet and achieve sound Asset-Liability Management (ALM). The primary focus will be on expanding operations in Central and Northern India, he said.

Offering home loans

Altum Credo offers home loans ranging from Rs 4 lakh to Rs 40 lakh, with terms spanning 5-20 years. The average loan ticket size is approximately Rs 8.5 lakhs with a 15-year tenure, focusing on properties valued between Rs 15-25 lakhs. Their loan-to-value ratio is typically below 50%, ensuring lower risk and sustainable lending practices.

Who are Altum Credo's target customers?

Altum Credo focuses on providing housing finance to unserved and underserved segments, primarily targeting first-time homeowners in the economically weaker section (EWS) and low-income group (LIG) category.

The company's technology-driven services cater to a diverse customer base, including salaried individuals and self-employed proprietors from small and medium enterprises, who often have limited access to long-term credit.

Investors comments

“Vikrant, backed by a seasoned management team, has a stellar track record in financial services and has set in place a strong playbook to scale existing operations,” said Rishi Maheshwari, Managing Partner at Z3 Partners.

“We believe the company is at an inflection point, where physical and digital infrastructure comes together to provide industry-leading operational metrics. This investment fits into our core thesis of technology being a catalyst to financially empower the underserved segment of Bharat while also building businesses in a profitable and scalable manner,” he added.