Shubham Housing Development Finance raises $7.8M from Elevar, Helion, others
Gurgaon-based Shubham Housing Development Finance Company Pvt Ltd has raised $7.8 million (Rs 43.2 crore) from four investors – Elevar Equity Advisors, Helion Advisors, ACCION and Saama Capital, according to sources.
Shubham essentially focuses on the urban low-income and informal income families, and facilitates home loans and home improvement loans for them. The company’s operating model seeks to transcend document-based underwriting and follows an interview-based approach to understand a customer’s income and expense flows, says the company website.
A borrower can take a home loan up to Rs 10 lakh while the maximum amount lent for home improvement is Rs...
A Premium membership gives you:
- Access to all premium articles including exclusives, analyses & commentary.
- Access to archives of over six years.
- Exclusive interviews with top fund managers, CEOs and bankers.