"Vridhi Home Finance Secures ₹150 Crore Investment from Elevation Capital"

Vridhi Home Finance, a housing finance lender, has successfully raised ₹150 crore in its inaugural funding round from Elevation Capital, a prominent venture capital firm.

The infusion of fresh capital marks a significant milestone for the lending startup, which now aims to accelerate its operations, enhance its credit lines by collaborating with larger lenders, and extend its reach into the regions of North Karnataka and Andhra Pradesh.

Established in 2022 by a team of seasoned finance professionals, including Sunku Ram Naresh as Chief Executive Officer, Sunil Mehta as Chief Finance Officer, and Sandeep Arora as Chief Operating Officer, Vridhi Home Finance is based in Bengaluru and recently obtained its home finance license. At present, the company operates 20 branches across Karnataka and Andhra Pradesh.

Vridhi Home Finance specializes in offering secured housing loans, with an average ticket size ranging from ₹6-8 lakhs, catering to both salaried individuals and self-employed borrowers who have previously encountered difficulties in accessing formal credit channels. This funding injection paves the way for the startup to expand its footprint and empower more potential homeowners to fulfill their housing aspirations.

HBL