Vridhi Home Finance, a tech-enabled housing finance company has raised ₹310 Crores (approximately $36.9 million) in Series B funding led by Norwest Venture Partners. The round also saw participation from existing investors Elevation Capital and the company’s founders.
Sunku Ram Naresh, Founder, MD &CEO of Vridhi Home Finance, said, “Our mission extends beyond just providing loans – we want to become the trusted financier of choice for underserved self-employed & informal income customers, helping them achieve their dream of home ownership. By establishing an omnichannel presence and ensuring exceptional service delivery through our phygital model, we are making home ownership accessible to traditionally underserved segments. The strong backing from Norwest and continued support from Elevation Capital validates our approach of combining deep market understanding with technology-led innovation.”
Nikhil Kookada, Principal at Norwest Venture Partners, said, “Norwest is delighted to partner with Ram, Sandeep, Sunil and the Vridhi team as they build a differentiated, tech-enabled affordable housing finance institution for semi-urban and rural India, helping Indian families achieve their dream of first home ownership. Vridhi’s founding team has played a pivotal role in laying the foundations of the Affordable Housing Finance industry in India and built two highly successful zero-to-one journeys in the last 2 decades. Norwest has a rich history of partnering with visionary entrepreneurs, possessing deep domain experience, and we are thrilled to support Vridhi as they drive financial inclusion for more
Indians.”