NEW DELHI:
Ummeed Housing Finance has raised Rs 164 crore from a fund managed by
Morgan Stanley Private Equity Asia and existing investor
LGT Lightstone Aspada.
The four-year-old, Gurugram headquartered company will use the proceeds from the Series-D round to expand into newer geographies, as well as further build its technology platform, with a focus on creating state-of-theart underwriting practices.
The affordable housing finance company, which was founded in 2016 by former
Citi executive Ashutosh Sharma, has now raised close to Rs 300 crore across multiple rounds of equity financing.
The latest round also comes a little less than 18 months after it had raised Rs 72 crore from LGT Lightstone Aspada and
Lok Capital.
“Given the participation from larger growth equity investors, the company will look to aggressively double asset under management to Rs 1,000 crore over the next 12-18 months,” Sharma, managing director of Ummeed Housing Finance, said. Avendus Capital acted as the financial advisor to the transaction.