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Ummeed In News

This is Ummeed Housing Finance Pvt. Ltd.’s Media Centre, here you can have a glimpse of our corporate and brand announcements. You can also access our press releases, media reports, interviews and articles across print, online and electronic channels.

Ummeed Housing Finance lands Rs 164 crore

The affordable housing finance company, which was founded in 2016 by former Citi executive Ashutosh Sharma, has now raised close to Rs 300 crore across multiple rounds of equity financing.

NEW DELHI: Ummeed Housing Finance has raised Rs 164 crore from a fund managed by Morgan Stanley Private Equity Asia and existing investor LGT Lightstone Aspada.

The four-year-old, Gurugram headquartered company will use the proceeds from the Series-D round to expand into newer geographies, as well as further build its technology platform, with a focus on creating state-of-theart underwriting practices.

The affordable housing finance company, which was founded in 2016 by former Citi executive Ashutosh Sharma, has now raised close to Rs 300 crore across multiple rounds of equity financing.

The latest round also comes a little less than 18 months after it had raised Rs 72 crore from LGT Lightstone Aspada and Lok Capital.

“Given the participation from larger growth equity investors, the company will look to aggressively double asset under management to Rs 1,000 crore over the next 12-18 months,” Sharma, managing director of Ummeed Housing Finance, said. Avendus Capital acted as the financial advisor to the transaction.

Ummeed Housing Finance caters to the informal and low-income segment, predominantly in tier-II and tier-III towns, and operates through 26 hubs in Rajasthan, Haryana, the National Capital Region and Uttar Pradesh. It also offers secured business loans to the MSME sector.

The company’s offering includes Rs 3 lakh to Rs 50 lakh ticket-size loans for home purchase, home construction, home renovation, loan against property and business loans.

"Affordable housing finance presents a large untapped opportunity, which Ummeed intends to address through its scalable operating model built with the right blend of technology, people and processes,” Nirav Mehta, managing director, Morgan Stanley Private Equity Asia, said.