BASIC Home Loan Raises $10.6 Mn in Series B Funding Led by Bertelsmann India Investments

BASIC Home Loan, a fintech platform for distribution of mortgages, has raised $10.6 million (₹87.5 crores) in a Series B funding round. The investment was led by Bertelsmann India Investments (BII), the strategic investment arm of German giant Bertelsmann SE & Co. KGaA, along with CE-Ventures, the venture capital platform of Crescent Enterprises, a leading global, diversified business headquartered in the UAE.

Existing investor Ashish Kacholia, a well-known equity investor, invested further and increased his stake in BASIC. The round also saw participation from existing investors, including Gruhas, Let’s Venture, 9Unicorns, and Venture Catalysts. Dexter Capital acted as the exclusive advisor to BASIC for this round.

BASIC Home Loan plans to use the newly raised funds to expand its market presence, build its own lending book, and enhance its technological capabilities. The Gurugram-headquartered fintech startup has previously raised $8.7 million across three rounds of funding.

Since its inception, BASIC has assisted nearly 250,000 families across over 650 districts in acquiring their own homes and generating indirect employment for 15,000 individuals in tier-2 and -3 areas. The company has sourced loan applications totaling $12 bn+ and disbursed more than $1.1 billion in loans through its network of lenders.