BASIC Home Loan, a leading fintech platform for mortgage distribution, has secured $10.6 million in a Series B funding round led by Bertelsmann India Investments. The investment will fuel the company’s growth and expansion into new markets. BASIC plans to use the fresh capital to broaden its market presence, develop its lending portfolio, and enhance its technological capabilities. The company aims to make homeownership more accessible for millions of people across tier 2 and 3 cities in India.
Since its inception, BASIC has helped nearly 2.5 lakh families in 650+ districts to own their homes and has indirectly employed 15,000 people in tier-2 and -3 locations. To date, the company has sourced loan applications worth $12 billion and disbursed $1.1 billion in home loans through its lender network.
“We are excited to have Bertelsmann India Investments join us on this journey to revolutionize the home loan experience,” said Atul Monga, CEO and Co-founder of BASIC Home Loan. “This funding will enable us to further expand our reach, enhance our technology, and introduce innovative financial products to meet the evolving needs of our customers.” Rohit Sood, Partner at Bertelsmann India Investments, expressed optimism about the sector’s growth prospects. “We see strong tailwinds in the sector due to favorable government policies, rising nuclearization & improving affordability,” Sood said. “We’re proud to join Atul and Kalyan in this journey.”
