Shubham announced raising Series ‘C’ funding
Shubham Housing Development Finance Company (Shubham) is a provider of home loans and home improvement loans for individuals with informal income. This Gurgaon-based company today announced raising Series ‘C’ funding of Rs. 122 crore.
The funding was led by Motilal Oswal Private Equity along with existing investors- Helion Advisors, Elevar Equity, Accion Frontier and Saama Capital. Shubham’s balance sheet has shown a constant upward curve and over the last three years the company has reached a customer base of more than 4,500 families and an asset book of Rs 235 crore.
The company plans to use the fresh round of funds to further expand its housing loan portfolio. This is in Sync with Modi’s ‘’Housing for all by 2022’’ agenda as that scheme targets the urban poor with informal income.
Raamdeo Agrawal the Co-Founder of Motilal Oswal Financial Services and Chairman of Motilal Private Equity stated that the housing finance is a large opportunity and Shubham is a differentiated model and is well poised for high growth. His team and he is delighted to be partnering with Sanjay, Ajay, Helion Ventures, Elevar Equity, Saama Capital and Accion in the next phase of Shubham’s journey. He also mentioned that they are confident that over the next few years Shubham would emerge as one of the largest and highly respected housing finance company focused on informal sector of Indian economy.
Source- Business Standard
home improvement loans, Home loans, Motilal Oswal Private Equity, Shubham, Shubham Housing Development Finance Company
