Vridhi Home Finance provides housing finance aimed at increasing access to home loans. The company recently raised Rs 310 crore ($36.9 million) in a Series B round to support growth and technology investment. It plans to invest in advanced technology and expand accessible housing finance offerings. The firm will use funds to deepen presence in states including Karnataka, Andhra Pradesh, Telangana, Rajasthan and Madhya Pradesh and to grow its loan book. Vridhi has expanded to 51 branches from 20 a year earlier and aims to add 40 more branches in the next 6–9 months. The company raised $18 million in a Series A a year earlier, led by Elevation Capital. Vridhi Home Finance is a tech-enabled, brick-and-mortar housing finance company that provides secured housing loans to salaried and independent contractors in Tier II and III cities. Founded in 2022 by Sunku Ram Naresh, Sandeep Arora, and Sunil Mehta, it is headquartered in Bengaluru. Vridhi obtained its NBFC-HFC license earlier this year and has established twenty branches across Andhra Pradesh and Karnataka. The company targets borrowers who previously had difficulty accessing formal credit, offering loans with an average ticket size of Rs 6–8 lakhs. It leverages a tech infrastructure, digital onboarding platforms, and loan management software to enable a scalable, paperless operation. Planned uses of capital include hiring, developing a liability franchise, strengthening the tech stack, and geographic expansion into North Karnataka and Andhra Pradesh.

Total raised

$55M

Funding rounds

2

Latest round

Series B

Latest activity

Oct 2024