What is BASIC Home Loan?
Founded in 2020, BASIC Home Loan is dedicated to transforming the Indian home financing landscape through an automated, technology-driven platform. The company aims to streamline the entire home loan fulfillment process, enabling faster disbursements for consumers. By focusing on affordable housing and leveraging digital solutions, BASIC Home Loan seeks to address a critical need in the Bharat (India) market, making homeownership more accessible.
How much funding has BASIC Home Loan raised?
BASIC Home Loan has raised a total of $19.3M across 4 funding rounds:
Angel/Seed
$500K
Series A
$3.5M
Other Financing Round
$4.7M
Series B
$10.6M
Angel/Seed (2020): $500K with participation from Picus Capital GmbH
Series A (2021): $3.5M led by Venture Catalysts
Other Financing Round (2023): $4.7M supported by Venture Catalysts
Series B (2024): $10.6M featuring Crescent Enterprises, lvxventures.com, Bertelsmann India Investments, Venture Catalysts, and 9Unicorns
Key Investors in BASIC Home Loan
Crescent Enterprises
Crescent Enterprises is a diversified group with a long history in the oil and gas sector, known for implementing advanced technologies and providing comprehensive equipment and technical services. Their involvement suggests a strategic interest in leveraging technology for operational efficiency, potentially applicable to BASIC Home Loan's platform.
lvxventures.com
lvxventures.com, likely representing LetsVenture, is a prominent Indian platform connecting startups with angel investors and VCs, specializing in seed and early-stage funding. Their participation highlights support for early-stage fintech innovation in India.
Bertelsmann India Investments
Bertelsmann India Investments (BII) is a venture capital fund focused on early growth-stage tech startups, particularly in fintech, healthtech, and edtech. Their investment in BASIC Home Loan aligns with their strategy of backing scalable tech ventures poised for significant growth in the Indian market.
What's next for BASIC Home Loan?
The recent major strategic investment signals a pivotal stage for BASIC Home Loan, likely enabling significant scaling of operations, expansion into new markets within India, and further development of its automated lending platform. This infusion of capital is expected to accelerate the company's mission to revolutionize home financing, potentially leading to enhanced technological capabilities and broader customer reach. The company's focus on end-to-end fulfillment through technology positions it for continued growth and market leadership in the competitive fintech space.
See full BASIC Home Loan company page
