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Affordable housing finance company Altum Credo raises US$ 39 million in equity led by Z3 Partners and Oikocredit with participation from British International Investment.

Affordable housing finance company Altum Credo raises US$ 39 million in equity led by Z3 Partners and Oikocredit with participation from British International Investment.

18 April | 2024

April 2024: Altum Credo, a new age affordable housing finance company, as part of Series C equity round has received fresh equity investment of US$ 39 million. Z3 Partners and Oikocredit lead the round with participation from British International Investment and existing investors Aavishkaar Capital, Amicus Capital and Mr. PS Pai & family, also participated in the round. Unitus Capital acted as the exclusive financial advisor for the transaction.

Altum Credo Home Finance:  Founded in 2017; headquartered in Pune is new age digitally powered impact driven housing finance company with laser sharp focus on providing long term retail home loans to low-income group customers who are first time homeowners and have traditionally faced challenges in accessing long term credit from formal channels. One of the fastest growing affordable housing finance company currently has well diversified operation in semi-urban and outskirt of urban area in six states namely Maharashtra, Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, and Rajasthan. The company commenced business by harnessing technology across functions and built tech driven, digital-led underwriting and service delivery. The company closed FY24 AUM of INR 830 Crore (GNPA 0.6%) and customer base more than 11,000.

The Company plans to use the proceeds from the current round of fund raise to achieve its target growth by further enhancing the distribution network and expand operation footprint. This fund raise shall also enable the company to remain well-capitalized in the near-term and support growth.

Vikrant Bhagwat, (Founder) MD & CEO, Altum Credo said, “Series B fund raise enabled us to further enhance technology platform and diversify borrowing mix. This series C fund raise is critical milestone for next phase of sustainable growth and will strengthen the balance sheet enabling effective leverage and sound ALM. The company will enhance the distribution network and expand operation in central and northern India. We are excited about the immense opportunities that lie ahead and meaningful potential financial inclusion. Like express sincere gratitude to all our stakeholders and partners for continuous support and belief in our vision of impactful growth

Harsh Shah, Principal at Oikocredit added,  "Access to quality housing has a multiplier impact in the lives of people particularly children and women in low-income families, also helping them in adapting to rapid climate change. Our investment in Altum Credo aligns with Oikocredit's “community-focused approach” for access to affordable housing financing. We are confident that the company will continue to build a sustainable and impactful business under the able leadership of Vikrant and his team."

About Altum Credo

New age tech enabled affordable housing finance company head quartered in Pune. Founded with vision of providing tech assisted best in class personalised service at affordable EMI to customer segment who remain unserved /underserved with long term finance needed to become first homeowners.

About Oikocredit

Social impact investor and worldwide cooperative Oikocredit has nearly five decades of experience funding organisations active in financial inclusion, agriculture and renewable energy.

Oikocredit’s loans, equity investments and capacity building aim to enable people on low incomes in Africa, Asia and Latin America to improve their living standards sustainably.

Oikocredit finances more than 500 partners, with total outstanding capital of € 1,084.7 million (at December 2023). For more information, visit

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