Varashakti Housing Finance Pvt. Ltd. (VHF) has drawn up plans to increase its business multi-fold in the next 5-7 years.
Impact investment manager Incofin has invested $4.3 million (Rs 35 crore) in Varashakti Housing Finance (VHF).
Varashakti Housing Finance to use funds to expand its business, scale up the organisation and further impact the lives of the rural underserved segment.
We see a large opportunity in the rural Indian affordable housing finance industry and believe that VHFs experienced team coupled with a strong technology platform will realise success while achieving deep impact goals, Incofin Asia Equity, partner and regional director, Aditya Bhandari said.
The series A funding comes from Incofin India Progress Fund, a private equity fund launched in 2021, to support entrepreneurs with growth equity capital. Financial inclusion is one of the two main focus points of the impact fund.
Varashakti Housing Finance (VHF), a prominent rural housing finance provider based in Chennai, has successfully raised ₹35 crore (US$4.3 million) in funding from Incofin, a Belgium-based impact investment firm. The funding was part of the Series A round under the Incofin India Progress Fund.
Varashakti Housing Finance has secured USD 4.3 Million in a Series A funding round from Belgium-based Incofin Investment Management’s India Progress Fund.
Varashakti Housing Finance, engaged in providing rural housing finance, has received Rs 35 crore series A Funding from Incofin India Progress Fund, to fuel its expansion plans, a top official said on Tuesday.
Financial services startup Varashakti Housing Finance has secured $4.3 million (Rs 35 crore) in a Series A funding round from Belgium-based Incofin Investment Management’s India Progress Fund.
Impact investment manager Incofin through Incofin India Progress Fund has invested USD 4.3 million (INR 35 crore) in Chennai-based Varashakti Housing Finance (VHF). VHF offers home loans, home improvement loans, loans against property and small ticket business loans. It reported an AUM of INR 119 crore with 28 branches. VHF aims to have an AUM of INR 1,750 crore by catering to 30,000 borrowers in the next 5-7 years.
Impact investment manager Incofin has invested $4.3 million (Rs 35 crore) in Varashakti Housing Finance (VHF).
Varashakti Housing Finance, engaged in providing rural housing finance, has received Rs 35 crore series A Funding from Incofin India Progress Fund, to fuel its expansion plans, a top official said on Tuesday.
