Business News/ Companies / Shubham Housing Finance raises Rs122 crore

Mumbai: Shubham Housing Development Finance Company, a Gurgaon-based company that provides home loans to those employed in the informal sector, announced on Tuesday that it has raised 122 crore in funding.

This round of funding was led by Motilal Oswal Private Equity Advisors Pvt. Ltd. Existing investors including Helion Advisors, Elevar Equity, Accion Frontier and Saama Capital also participated. The company had raised $8 million in 2012.

Shubham provides loans ranging between 1 lakh and 15 lakh in 12 states and plans to use the fresh round of funds to further expand its housing loan portfolio.

“We are looking to grow the asset book multiple times and expand the distribution reach to 150 cities," said Ajay Oak, co-founder and chief operating officer, in a statement.

The company was founded in 2010. In the last three years it has given loans to more than 4,500 families and has an asset book of 235 crore.

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Updated: 09 Sep 2014, 04:41 PM IST
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