Basic Home Loan Raises $10.6 Mn In Series B Funding

Hyderabad: Basic Home Loan, a fintech platform for distribution of mortgages, has raised $10.6 million (₹87.5 crores) in a Series B funding round. The investment was led by Bertelsmann India Investments (BII), the strategic investment arm of German giant Bertelsmann SE & Co KGaA, along with CE-Ventures, the venture capital platform of Crescent Enterprises, a leading global, diversified business headquartered in the UAE.

Existing investor Ashish Kacholia, a well-known equity investor, invested further and increased his stake in Basic. The round also saw participation from existing investors, including Gruhas, Let's Venture, 9Unicorns, and Venture Catalysts. Dexter Capital acted as the exclusive advisor to Basic for this round. Basic Home Loan plans to use the newly raised funds to expand its market presence, build its own lending book, and enhance its technological capabilities. The Gurugram-headquartered fintech startup has previously raised $8.7 million across three rounds of funding.