BASIC Home Loan
| File:Basic-home-loan-logo.svg | |
| Private | |
| ISIN | 🆔 |
| Industry | Financial technology |
| Founded 📆 | 2020 |
| Founders 👔 |
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| Headquarters 🏙️ | Gurgaon, Haryana, India |
Area served 🗺️ | |
Key people |
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| Members | |
Number of employees | |
| 🌐 Website | Official website |
| 📇 Address | |
| 📞 telephone | |
BASIC Home Loan is an Indian financial technology company founded in 2020 and headquartered in Gurugram, Haryana. It provides a digital platform that automates home loan applications and primarily serves middle- and low-income households in India.[1]
History
BASIC Home Loan was founded in 2020 by Atul Monga and Kalyan Josyula, who previously worked in financial services and technology firms.[2]
BASIC Home Loan began its operations in Tier-2 and Tier-3 cities and introduced a network of field agents to assist with loan applications and documentation.[3][1] By mid-2021, over 7,500 agents had been deployed. The initiative was stated to be in line with national programs such as Atmanirbhar Bharat and Housing for All.[4]
Between 2021 and 2022, the company entered into partnerships with real estate and housing-related platforms, including Vaishnavi Group,[5] ApnaComplex,[6][7] and Breez Builders.[8]
By mid-2023, the company had handled loan applications worth approximately ₹3,000 crore monthly[9] and had helped over 100,000 families secure housing finance.[10]
As of September 2024, BASIC reported partnerships with more than 90 banks and financial institutions, including the State Bank of India, ICICI Bank, HDFC Bank, and Axis Bank.[11][12] In the same year, the company was listed as a participant in national affordable housing initiatives, including the Pradhan Mantri Awas Yojana (PMAY).[13]
Funding
| Date | Funding Round | Amount Raised | Lead Investors | Other Investors |
|---|---|---|---|---|
| October 2020 | Seed Round | US$500,000 | Picus Capital[14] | – |
| October 2021 | Series A | US$3.5 million | Venture Catalysts, Gruhas Proptech[2] | Picus Capital, Earlsfield Capital, Good Capital, angel investors |
| June 2023 | Pre-Series B | US$4.7 million | Ashish Kacholia[15] | Gruhas, Venture Catalysts |
| September 2024 | Series B | US$10.6 million (₹87.5 crore) | Bertelsmann India Investments, CE-Ventures[3] | Gruhas, Venture Catalysts, 9Unicorns, Let’s Venture, Ashish Kacholia |
References
- ↑ 1.0 1.1 "Fintech Firm BASIC Home Loan Bags USD 10.6 Mn to Drive Innovation in Underserved Housing Market". Entrepreneur India. September 30, 2024.
- ↑ 2.0 2.1 Sharma, Suvarna. "BASIC Home Loan raises funds led by Venture Catalysts, others". VCCircle.
- ↑ 3.0 3.1 Haidar, Faizan (2025-01-02). "Basic Home Loan to end FY25 with Rs 15,000 crore disbursement". The Economic Times. ISSN 0013-0389.
- ↑ "BASIC Home Loan to hire, develop and train 25K entrepreneurs". ETHRWorld.com.
- ↑ "BASIC Home Loan Partners With Vaishnavi Group". BW Disrupt. October 29, 2021.
- ↑ "Home Loan from Over 35 Banks, NBFCs Available at your Doorstep Now, Details Here". News18.
- ↑ "BASIC Home Loan & Apnacomplex Join Hands". Realty Plus Magazine.
- ↑ "BASIC Home Loan & Breez Builders Partner For Home Loans". Realty Plus Magazine.
- ↑ Shetty, Mayur (2023-06-14). "Basic Home Loan raises $4.7 million in pre-Series B funding". The Times of India. ISSN 0971-8257.
- ↑ Haidar, Faizan (2023-06-14). "Fintech startup Basic Home Loan raises $4.7 million in a round led by investor Ashish Kacholia". The Economic Times. ISSN 0013-0389.
- ↑ L, Krithika K. (2024-09-30). "Mortgage Distribution Startup BASIC Home Loan Bags $10.6 Mn From BII, Others". Inc42 Media.
- ↑ L, Krithika K. (2024-09-30). "Mortgage Distribution Startup BASIC Home Loan Bags $10.6 Mn From BII, Others". Inc42 Media.
- ↑ "Fintech startup Basic home loan raises Rs 87.5 crore in a Series B funding round". The Economic Times. 2024-09-30. ISSN 0013-0389.
- ↑ Bhatla, Prabhjeet (October 26, 2020). "BASIC Home Loan Raises $500,000 In Seed Round". Entrepreneur India.
- ↑ "Basic Home Loan raises Rs 87.5 crore in a Series B funding round". The Times of India. 2024-09-30. ISSN 0971-8257.
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