Chennai-based Aham Housing Finance Secures Rs 30 Crore Funding to Expand Field Network and Enhance Automation
Aham Housing Finance, a Chennai-based affordable housing finance firm, has made headlines by securing Rs 30 crore in a new round from Negen Capital.
As per the firm, the freshly raised capital will strengthen its field network and automate its operations across the organization.
Aham Housing Finance | Affordable Housing Finance Firm
Founded by Venkatesh Kannappan, Aham Housing Finance offers various home loans across multiple segments and diverse regions. With 20 branches, the firm typically offers loans ranging from Rs 10 to 15 lakh for self-constructed homes, serving families with 3 to 4 members in metro city outskirts and tier II and III cities.
As per the Chennai-based housing finance firm, it differentiates itself by relying on its proprietary underwriting tools. These tools enable the firm to onboard customers who have a limited credit history but display predictable behaviour.
Rise of Lending Segment in India
Over the years, there has been exponential growth in fintech firms offering loan services across categories, including home, education, and MSME loans. Recently, home finance lending fintech Vridhi Home Finance secured Rs 150 crore in Series A funding to expand its branches by adding 25-30 more in the next 12-18 months.
Also, Jaipur-based MSME loan provider Kaabil Finance bagged $3 Mn in pre-Series A funding to accelerate growth in its secured micro, small, and medium enterprises (MSME) loan book. The round was led by 2point2 Capital, where several undisclosed high-net-worth individuals (HNIs) also participated.
Earlier in February, Lorien Finance, a startup providing loans for education, raised $1.8 million in seed funding led by Venture Catalysts to boost the product stack and market expansion. Also, Sociallending Technologies and Holdings Pvt Ltd, which operates the mortgage lending platform LoanKuber, grabbed $2 million as part of its Series A round for hiring and scaling up its assets under management and technology stack.
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