Weaver Services raises $170 million from Lightspeed, Premji Invest

MUMBAI: Weaver Services, a tech-first housing finance platform focused on affordable housing in India, has raised $170 million in a funding round led by Lightspeed and Premji Invest.

Domestic private equity firm Gaja Capital, the company's existing backer, also participated in the round.

The company said it will use the proceeds for acquisitions, technology development, and expanding its presence across tier-2 and tier-3 cities. The round comes amid a flurry of fundraises in the sector over the past year, including by Vastu Housing Finance, Nivara Home Finance, and Ummeed Housing Finance.

As part of its growth strategy, Weaver is evaluating additional acquisitions to build scale. The firm had earlier acquired Capital India Housing Finance as its anchor asset.

“Our aim is to make housing finance more accessible by leveraging technology and placing customers at the centre of our focus, thereby bringing in a new paradigm in the space,” said Satrajit Bhattacharya, founder and vice chairman of Weaver Services.

Founded in 2024, Weaver is building a next-generation housing finance business aimed at India’s vast underserved segment, particularly self-employed individuals. Bhattacharya, a housing finance veteran with three decades at HDFC Ltd, leads the company alongside Anil Kothuri, who has held leadership roles at FedFina, Edelweiss, and Citi.

For Lightspeed and Premji Invest, the round marks a significant commitment to India’s under-penetrated housing finance market.

“We believe that India’s housing finance market remains under-penetrated and represents a tremendous opportunity. Weaver’s deep domain expertise, AI-driven capabilities, and tech-first approach position them to democratize home ownership for millions of underserved Indians,” said Anuvrat Jain, Principal, Growth Investments at Lightspeed. “We are excited to partner with Satra, Anil and the exceptional team to reimagine the housing finance landscape in India.”

Saravanan Nattanmai, partner at Premji Invest, said, “The acquisition of Capital India Housing Finance by Weaver marks an important first step toward delivering frictionless, scalable, and inclusive mortgage solutions for underserved segments. This investment reflects our commitment to backing innovative platforms that use technology to drive meaningful, long-term impact in financial services.”