With the help of CE-Ventures and Bertelsmann India Investments (BII), fintech firm BASIC Home Loan secured $10.6 million (about Rs 87.5 crore) in its Series B round of funding.
Ashish Kacholia, an existing investor, raised his position in BASIC and made further investments. Existing investors Gruhas, Let’s Venture, 9Unicorns, and Venture Catalysts were also involved in the round.
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The money raised will increase its technological prowess, develop its own loan book, and increase its market presence.
About BASIC Home Loan
BASIC Home Loan, founded in 2020 by Atul Monga and Kalyan Josyula, is creating a platform to automate home loans for Indian households with middle-class and lower-class incomes.
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