Altum Credo Home Finance, a company that provides affordable housing loans, has raised INR 170 crore ($19.5 million) in equity funding from its existing investor British International Investment (BII), the UK’s development finance and impact investment firm.
The fresh funding will strengthen Altum Credo’s balance sheet and support its expansion in southern and western India.
“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 long-term sustainable impactful growth journey and our commitment to cater meaningfully to the large unmet demand for affordable housing finance in India,” said Vikrant Bhagwat, MD and CEO of Altum Credo.
Shilpa Kumar, BII, MD and Head of India, said, “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.”
Founded in 2016, Altum Credo provides long-term home loans to people with informal or semi-formal incomes living in urban and semi-urban areas.
Its model combines a technology-driven loan platform with a strong local presence, making it easier for people to access housing finance.
So far, Altum Credo has served over 15,000 customers across six states, with its assets under management (AUM) crossing ₹1,000 crore.
In FY24, the company’s revenue grew by 67% to ₹112.87 crore, and its profit more than doubled to INR 20 crore.
Read more- Pintarnya Raises US$16.7M Series A to Support Blue-Collar Workforce in Indonesia
