Ummeed Housing Finance raises Rs 630 cr equity
[hfe_template id='11223']
[ad_1]
Morgan Stanley and Norwest Capital-backed Ummeed Housing Finance has raised ₹630 crore in a Series F round from investors including A91 Partners LLP, Mirae Asset Venture Investments (India), Anicut Capital and existing investors Norwest Venture Partners. The fundraising is in a combination of primary capital of ₹300 crore and an exit for Lightrock Global Fund, which had invested in 2018. Lightrock Global Fund exited at 3x return by raising ₹330 crore in lieu of its original equity in the home financier. DC Advisory India was the exclusive financial advisor to Ummeed. The funds will be used to expand in the central and southern parts of India, including Madhya Pradesh, Telangana and Andhra Pradesh. Ummeed's 60% portfolio consists of affordable housing loans and the remaining secured small-ticket business loans to self-employed individuals in the low and middle-income categories."Raising primary capital for the company was the main...