Ummeed In News
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Ummeed Housing Finance raises $5.6m led by Lok
Delhi-based affordable housing finance company, Ummeed Housing Finance today announced it has raised Series B funding of USD 5.6 million from existing investors Lok Capital Growth Fund (Loks third fund) and Duane Park.
The fun raising comes on the heels of the first institutional funding of USD 3.5 million raised from Lok and Duane Park in October, 2016, the company said in a statement.
The fresh round of investment will fuel the companys expansion plans to new locations in North and Central India, lead to investments in SMAC (Social, Mobile, Analytics and Cloud) technologies and grow assets under management by six times in the next year, it said.
Founded in January 2016 Ummeed now has three branches in Delhi, Chandigarh and Jaipur and has close to Rs 20 crores assets under management (AUM), it said.