Shubham Housing Development Finance raises $7.8M from Elevar, Helion, others | VCCircle
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Shubham Housing Development Finance raises $7.8M from Elevar, Helion, others 

BY  Bruhadeeswaran R
The housing finance firm raised around $2 million from Elevar Equity and Helion Venture Partners around two years ago.

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...

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